you may re-serve only unopened, prepackaged food in good condition.
What item may Customer reuse at a self serve area?In general, you may only re-serve food that has not been opened and is still in acceptable condition.Bottles of ketchup, mustard, and other condiments may also be used again.Sneeze guards should extend 14" above the counter and 7" beyond the food.Post self-serve guidelines like "Do not reuse dishes and utensils" on the wall.Only unopened prepackaged food can typically be re-served.This contains bottles of ketchup and mustard, wrapped crackers or breadsticks, and condiment packets.When customers serve themselves, there is a risk of cross-contamination.They may do this by using previously used, dirty utensils or refilling soiled plates.They may also put their heads under the sneeze guard while reaching for food or pick it up with their bare hands.Contamination must be prevented in self-service areas.To learn more about self-service areas. refer,
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if a merchandiser offers a sales discount of 2/10, net/30 on a sale of $2,000, the amount due in 10 days is the net amount of $1,960.
A. true
B. false
The statement is True. If a merchandiser offers a sales discount of 2/10, net/30 on a sale of $2,000, the amount due in 10 days is the net amount of $1,960.
It revolves around product positioning and visually-beautiful product shows that attract a client's interest. The entire vending procedure clearly starts with an effective call for forecasting and product buying. Your ability to use planning software programs and evaluate retail developments is key in this place.
Merchandisers want to understand the products and patterns in their marketplace and be capable of coming across commercial motion to up or downgrade stock at just the proper time. Statistics is their BFF. It informs demand forecasts ensuring they are now not left with duds. And it additionally well-known shows regions for promotional possibilities.
Low-stage merchandising jobs are normally no longer as excellent, as they do now not pay thoroughly and do not contain a high level of creativity or professional engagement. But, becoming a merchandiser for larger groups in higher-paying positions may be a completely worthwhile profession.
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If the slope of the total productivity line is decreasing as output increases, what does that say about marginal productivity?.
The marginal cost curve will shift upward because an increase in output necessitates additional labor, which is also more expensive right now.
What happens to the marginal cost curve when productivity increases?The marginal cost curve will shift upward because an increase in output necessitates additional labor, which is also more expensive right now Average total and average variable costs will climb along with the increase in total variable cost. By observing how the MP responds to a change in an input, you may tell if the marginal product of that input is rising, falling, or constant.Taking a derivative of the marginal product with regard to the relevant input is the simplest way to determine that. The Total Product (TP) grows at an increasing rate as the Marginal Product (MP) grows.As variable factor inputs rise, the Total product curve initially takes on a convex appearance.This goes on until the MP curve reaches its highest point.
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alan, the chief executive officer of pioneer inc., was requested by jack, a student at woodhouse elementary school, to share some information about pioneer for his project report. while alan could have forwarded one of the several emails he had written about the company to his clients, he used simple words and gave simple basic facts about pioneer when responding to jack. in this scenario, which of the following audience characteristics did alan consider?
In this scenario, age which is a audience characteristics did consider by Alan.
What are audience characteristics?Age, gender, ethnicity, class, sexual orientation, occupation, education, affiliation with a particular group, and a plethora of other aspects are among the demographic characteristics of an audience. An astute speaker pays attention to them since they frequently structure people's identities and experiences.
How critical is it to understand an audience's characteristics?Knowing your audience will assist you determine what information and messages are relevant to them. Once you've decided what to say, recognizing your audience will help you choose the right tone and voice for your message.
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assume the economy is initially on aggregate demand ad2. the fed should multiple choice buy bonds. increase the reserve requirement. raise the discount rate. lower the prime rate.
Assume that the economy is originally based on AD2. The fed should make reserves more necessary.
Define the term aggregate demand?In macroeconomics, the word "aggregate demand" is used to define the total demand for commodities produced domestically, including capital goods, consumer goods, and services.
It includes all purchases made by individuals, businesses, the government, and foreigners (via exports), minus the portion of demand that is met by imports from other countries.The total quantity of demand including all finished products and services generated in an economy is measured as aggregate demand. The total amount spent on those services and goods at a particular price level and time is known as aggregate demand.Thus, assuming that the economy is originally based on AD2. The Fed should make reserves more necessary.
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strategic fit among businesses can enhance shareholder value by multiple select question. transferring skills and capabilities from one business to another. sharing facilities or resources to reduce costs. leveraging use of a common brand name. spreading risk across completely different businesses.
Businesses that fit together strategically might increase shareholder value by, for example,
combining resources or facilities to cut costs.
moving expertise and skills from one firm to another.
utilizing a well-known brand name.
Strategic fit describes how well a company is matching its assets and capabilities to opportunities in the external environment. Because the matching is done through strategy, the company must therefore have the actual resources and competencies to implement and support the plan.
Strategic fit is used to evaluate the current performance of an organization or sector. This is necessary to determine whether the organization can live up to external expectations. To evaluate these organizational skills, a few models of strategic fitness were built for this study.
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your customer has performed the following trades bought 200 shares of abc at $40 bought 400 shares of abc at 50 sold 600 shares of abc at 55 what is the result of these trades?
The end result of those trades is D) A $5,000 gain.
The required details for trade in given paragraph
They offered two hundred at forty for $8,000; then four hundred at 50 for $20,000; then offered six hundred at fifty five for $33,000. $33k - $28k = income of $5,000.
Trade entails the switch of products and offerings from one character or entity to another, regularly in trade for money. Economists seek advice from a system or community that lets in exchange as a market. An early shape of exchange, barter, noticed the direct trade of products and offerings for different items and offerings, i.e. buying and selling matters with out using money. Modern buyers commonly negotiate thru a medium of trade, which include money. As a end result, buying may be separated from selling, or earning. The invention of money significantly simplified and promoted exchange. Trade among buyers is called bilateral exchange, even as exchange related to greater than buyers is called multilateral exchange.
In one contemporary-day view, exchange exists because of specialization and the department of labor, a principal shape of financial activity wherein people and businesses deal with a small component of production, however use their output in trades for different merchandise and needs.
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the fact that news organizations have avoided stories that offend tobacco companies (many of which are large conglomerates) is an example of what aspect of the business environment?
The fact that news organizations have avoided stories that offend tobacco companies (many of which are large conglomerates) is an example of Commercialism.
What is Commercialism?Commercialization is the process of introducing new products or services to the market.The broader act of commercialization includes duties that are critical to the commercial success of the new good or service, such as production, distribution, marketing, sales, customer support, and other similar activities.Once a small business has grown and scaled its operations to the point that it can successfully target a larger market, commercialization often occurs.By selling packaged cinnamon rolls to adjacent grocery stores, for instance, a small bakery that is well-known for its cinnamon rolls and has had tremendous success selling them can market its products. This will open up the market for the pastries and have a variety of positive effects on the bakery's sales.A thoughtfully created three-tiered product roll-out and marketing strategy that includes the principal elements listed below is necessary for commercialization:
The conceptual stagethe phase of a business processinvolving stakeholdersTo learn more about Commercialism, refer to
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paying taxes is an example of group of answer choices redistribution. balanced reciprocity. negative reciprocity. generalized reciprocity. the market principle.
Paying taxes is an example of redistribution.
What is redistribution?
Income and wealth redistribution is the transfer of income and wealth from one person to another by a social mechanism such as taxes, welfare, public services, land reform, monetary policy, confiscation, divorce, or tort law. The word usually refers to redistribution on a broader economic scale rather than between specific individuals. However, the phrase is occasionally used to describe laws or policies that produce redistribution in the reverse direction, from poor to affluent. On ethical and economic grounds, the implications of a redistributive system are hotly discussed. The subject involves an examination of its rationales, goals, methods, and policy efficacy.
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Fisher-Price watches young children play with its toys to determine if and how various products should be changed or improved. Fisher Price is collecting __________ data.
Fisher-Price watches young children play with its toys to determine if and how various products should be changed or improved. Fisher Price is collecting survey data.
Since most research entails the series of data, there are countless techniques for direct, or primary, information collection, including surveys, questionnaires, direct observations, and focal point groups.In the 0.33 stage of the advertising and marketing research approach—collect relevant information—both secondary and essential data are accrued and statistics science and records mining are utilized, including collecting the range of likes and the level of fan engagement.
What are the four sorts of market analysis?Four common types of market lookup techniques encompass surveys, interviews, center of attention groups, and customer observation.
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https://brainly.com/question/28318235#SPJ4When a bond is issued for more than its face value, the market rate of interest is ________ the interest rate stated on the bond.
When a bond is issued for more than its face value, the market rate of interest is less than the interest rate stated on the bond.
The term "face value" refers to a security's nominal or monetary value; the issuing party specifies the face value.A stock's face value is its initial purchase price, as stated on the stock's certificate; a bond's face value is the amount that will be paid to the investor when the bond matures.Face value is not a reliable indicator of a stock's or a bond's actual market value because there are numerous other influencing factors, such as supply and demand, at work.When investing in bonds, face value (also known as par value) refers to the sum that, provided the bond issuer doesn't default, is paid to a bondholder when the bond matures.Learn more about Face value, here
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he income effect of a wage increase will cause a worker to devote question content area bottom part 1 a. less time to labor and less time to leisure. b. more time to labor and less time to leisure. c. more time to labor and more time to leisure. d. less time to labor and more time to leisure.
D) A pay increase's income effect will cause a worker to devote less time to labor and more time to leisure.
What is the income effect?
The income effect is a shift in demand for a commodity or service caused by a shift in a consumer's purchasing power, which is caused by a shift in their real income. It is a component of consumer choice economic theory relating to how affluent customers feel.
The income effect is a shift in demand for a commodity or service caused by a shift in a consumer's purchasing power, which is caused by a shift in their real income. It is a component of consumer choice economic theory relating to how affluent customers feel.
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clay works for a company that has offices in major cities across the united states. his department regularly holds videoconferences with teams in the other branches. which type of network does clay's business most likely use for videoconferencing?
WAN type of network does clay's business most likely use for videoconferencing.
What is WAN?A wide area network is a telecommunications network that spans a large geographic area. Broadband networks are often formed by leased communication circuits.
Wide Area Network (WAN) Network types WANs can be classified into two broad categories:
connected WANs point-to-point WANsWAN networks can facilitate communication, data sharing and more between devices across the world through a WAN service provider. . WANs may be important for multinational companies, but they are also essential for everyday use, as the internet is considered the world's largest WAN.
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what would be the excel formula to compute the internal rate of return for this stream of cash flows for a $32,000 investment and cash inflows of $10,000 per year for years 1 through 4?
There would be the excel formula to compute the internal rate of return for this stream of cash flows for a $32,000 investment and cash inflows of $10,000 per year for years 1 through 4
IRR(−32000,10000,10000,10000,10000) Correct
What is the internal rate of return formula in Excel?Using equal-sized payment periods as an assumption, Excel's IRR function determines the internal rate of return for a set of cash flows. The internal rate of return (IRR) formula, applied to the example data above, would be =IRR(D2:D14,. 1)*12, resulting in a 12.22% internal rate of return.
What is the internal rate of return calculation formula?CF t = 0 + [CF t = 1 + (1 + IRR)] + [CF t = 2 + (1 + IRR)2] = Internal Rate of Return (IRR) = (Future Value Present Value)(1 Number of Periods) - 1. [CF t = n (1 + IRR)] +... +
NPV = Cefni + (1 + IRR) = 0, etc.
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If the labor force increases and the number of employed workers stays the same
a) the unemployment rate will not change.
b) the unemployment rate will fall.
c) the unemployment rate will rise
d) it's not possible to determine.
If the labor force increases and the number of employed workers stays the same the unemployment rate will rise
A relationship between two parties that governs the delivery of compensated labor services is called employment. In most cases, based on a contract, the employer, which might be a company, a non-profit, a cooperative, or any other entity, pays the employee in exchange for doing the job that has been allocated to them.
Workers are compensated for their labor through wages, which can be paid on an hourly, piecework, or annual basis depending on the type of work performed, the industry conditions in effect, and the bargaining power of the parties. Employees may earn benefits in addition to compensation in various occupations.
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when composing for digital media, focus on the principles of social media communication and use the fundamentals of______to improve the effectiveness of the message.
The complete statement is "When composing for digital media, focus on the principles of social media communication and use the fundamentals of Planning, writing, and completing to improve the effectiveness of the message."
What is social media communication?Generally, The term "social media" refers to the various methods by which individuals can interact with one another to create, share, and/or trade information and ideas within online communities and networks.
The primary Fac/ebook, Tw/itter, Ins/tagram, and Link/edIn accounts, as well as the YouT/ube channel, are all managed by the Office of Communications and Marketing.
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the creators of network, cheyefsky and lumet, were part of an emerging class of entertainment industry forces who felt that television was an influence that had to be battled at all cost. group of answer choices true false
False, the creators of network, cheyefsky and lumet, were not a part of an emerging class of entertainment industry forces who felt that television was an influence that had to be battled at all cost.
Paddy Chayefsky wrote and Sidney Lumet directed the 1976 Metro-Goldwyn-Mayer satirical black comedy-drama film titled Network. It is about the problem with low ratings faced by a fictional television network called UBS. The cast of the movie includes Faye Dunaway, William Holden, Robert Duvall, Wesley Addy, Ned Beatty, and Beatrice Straight. Peter Finch plays his final film role.
Network garnered a lot of positive press overall, with the performances receiving particular attention. It received nine Oscar nominations at the 49th Academy Awards, including Best Picture, and won four of them for Best Actor (Finch), Best Actress (Dunaway), Best Supporting Actress (Straight), and Best Original Screenplay. The movie was a commercial success.
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which of the following markets is most likely to be monopolistically competitive? group of answer choices a market with differentiated products a market in which firms are price takers a market with a concentration ratio of 80% a market with identical products previousnext
A) It is most likely that a market with differentiated items will be monopolistically competitive.
What is a market that is monopolistically competitive?
Monopolistic competition arises when numerous businesses provide rival goods or services that are comparable but imperfect substitutes. Entry barriers are low in monopolistic competitive industries, and decisions made by one firm do not directly affect those of its rivals. Pricing and marketing choices are how the rival companies set themselves apart.
Between perfect and monopolistic competition, known as monopolistic competition, there is monopolistic competition, which combines aspects of both and entails businesses with similar but distinct product offerings.
Examples of industries with monopolistic competition include dining establishments, hair salons, home goods, and apparel. Many rival businesses sell, market, and charge for goods like dish soap and hamburgers.
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Which of the following is not considered a best practice regarding 360-degree feedback systems?
a. The system provides reliable ratings of competencies
b. The results from such feedback should be used to make compensation decisions.
c. Employees receive timely feedback Maintain rater confidentiality,
The use of such feedback results in compensation decisions is not regarded as a recommended practice for 360-degree feedback systems, according to option b.
Employees that participate in a 360-degree feedback system or process receive private, anonymous feedback from those who work with them. The management, colleagues, and direct reports of the individual are frequently included in this.
You can use a variety of raters to provide feedback on an employee, including supervisors, peers, direct reports, subordinates, and external raters (customers or vendors). The employee's development plan frequently uses feedback as a benchmark.
Employee performance improvement is one of the procedure's most significant advantages. It provides insight into how to increase overall performance and aids in enhancing self-accountability and relationships between employees. This enhances the organization's ability to retain and engage its workforce.
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The difference between the standard and the actual direct labor wages per hour is reflected in the labor.
The difference between the standard and the actual direct labor hourly rates is reflected in the labor rate variance.
What is direct labor?Generally, The term "direct labor" refers to the wages and salaries that are given to employees whose labor may be directly linked to a particular commodity or service. It takes into account the price of ordinary working hours, extra hours performed, payroll taxes, unemployment tax, Medicaid, employment insurance, and other related expenses.
Only work that is directly engaged in the creation of products and services is regarded to be direct labor. In contrast, labor that is not directly involved in the production is considered to be indirect labor. By default, any and all other types of work are categorized as indirect labor.
Direct labor cost is a component of wage bill or payroll that can be directly and consistently allocated to or related with the production of a product, a particular work order, or the provision of a service. Direct labor cost may also be referred to as hourly labor cost.
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CQ
The difference between the standard and the actual direct labor hourly rates is reflected in the ________ _________ variance. (Enter only one word per blank.)
when ford motor company provides its ford and lincoln-mercury dealers with incentives for meeting or exceeding sales goals, this is an example of a(n)
A push approach is used by ford motor corporation when it offers incentives to its ford or Lincolns-mercury dealers for meeting and exceeding sales goals.
What is sales?
Sales are actions involving the sale of goods or the volume of items sold during a specified time frame. A sale also includes the provision of a service for a fee. When a purchase, appropriation, requisition, or direct engagement with the customer occurs at the point of sale, the seller or provider of the goods and services completes a sale. Title (property and ownership) of the object is transferred, and a price is settled, meaning a price is agreed upon for which the ownership of a item will transfer.
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countries that engage in trade will tend to specialize in goods in which they have a(n) and will those goodsparative advantage; importabsolute advantage; exportcomparative advantage; exporteconomic profit; import
countries that engage in trade will tend to specialize in goods in which they have export comparative advantage.
What is comparative advantage ?According to the theory of comparative advantage, nations will trade with one another and export the items in which they are relatively more competitive. Absolute advantage refers to a nation's undeniable ability to produce a certain good more effectively.An economic principle known as comparative advantage, which dates back to the early 1800s, shows how free trade eliminates the need for protectionism.The ability of an economy to produce a specific good or service at a lower opportunity cost than its trading counterparts is known as comparative advantage.Opportunity cost is a new consideration in the idea of comparative advantage when comparing various manufacturing possibilities.Economists have been unusually consistent in supporting free trade policies, and comparative advantage is the cause of this. According to the hypothesis, countries' overall economic welfare increases when they concentrate on the industries in which they have the most success and skill as well as the fewest opportunity costs.To learn more about comparative advantage refer :
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During this christmas season, as millions of houses and trees are being decorated by millions of strands of electric christmas lights, consumers are secure in using the electrical device because.
A private electrical regulation firm has inspected, tested, and UL-certified the safety of the electrical device before it entered the market.
An electrical code is a set of guidelines for the layout and setup of electrical wiring in a building. The intention of a code is to provide requirements to make sure electric wiring systems which can be safe for humans and belongings. Such wiring is a problem with rigorous safety requirements for design and installation.
Wires and electrical cables are distinct according to the circuit operating voltage and electric contemporary capability, with similar regulations in environmental situations, including ambient temperature range, moisture ranges, and exposure to daylight and chemicals. related circuit protection, manipulation, and distribution devices inside a construction's wiring gadget are difficult to voltage, contemporary and functional specification.
To ensure each wiring and related gadget are designed decided on, and hooked up in order that they're safe to be used, they are concerned with wiring safety codes or guidelines, which vary by means of locality, USA, or place.
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the furniture hut is offering a bedroom suite for $1,999. the credit terms are 60 months at $50 per month. what is the interest rate on this offer?
The annual interest on this offer is 17.28%
Credit terms specify when payments are expected for purchases made with credit, any potential discounts, and any interest or late payment penalties that may be charged. Credit conditions for sales on credit, for instance, can be 2/10, net 30. This indicates that payment must be made in 30 days (net 30). However, a 2% discount will be given if the customer pays within 10 days.
We use the following formula to compute the monthly payment for a loan with principal P, monthly interest rate r and number of monthly payments T:
[tex]{}\displaystyle \frac{Pr}{1 - (1 + r)^{-T}} {/}[/tex]
Applying the formula, the monthly interest rate on this loan is:
[tex]{}\displaystyle \frac{1,999*r}{1 - (1 + r)^{-60}} = 50 {}[/tex]
which yields:
r = 1.44%
The annual interest rate = 1.44%*12 = 17.28%
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The purpose of a vertical marketing system is to: _______
The purpose of a vertical marketing system is to achieve channel economies and maximum marketing impact.
A vertical marketing system is any distribution route that involves the cooperation of its various participants. This can include manufacturers, merchants, and distributors. To successfully supply items to customers and reach the highest levels of efficiency, they all must collaborate.
A vertical system aims to do away with the competitiveness and conflict that can occur in a traditional marketing system. As a result, businesses become more efficient and reduce the cost of their products because they are no longer driven by personal financial objectives.
Similar or compatible goods and services are created and marketed to a specific group of clients in a vertical market. Insurance, real estate, finance, heavy manufacturing, retail, transportation, hospitals, and government are a few examples of bigger vertical markets.
The options for the question are:
- maximize the number of wholesalers with which a supplier can trade.
- eliminate wholesaler channel members and have producers go directly to consumers.
- limit the number of retail outlets served and sales region.
- achieve channel economies and maximum marketing impact.
- dissuade retailers from dealing with other manufacturers or wholesalers.
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1. aaron works for a computer company whose corporate culture is characterized by a formalized, structured work environment aimed at achieving effectiveness.
Aaron works for a computer company Hierarchy corporate culture is characterized by a formalized, structured work environment aimed at achieving effectiveness.
A hierarchy is an arrangement of items (gadgets, names, values, classes, and so on.) which are represented as being "above", "underneath", or "on the identical level as" one another. Hierarchy is a critical concept in a wide variety of fields, along with architecture, philosophy, design, mathematics, computer science, organizational concept, systems principle, systematic biology, and the social sciences (especially political philosophy).
A hierarchy can link entities either at once or in a roundabout way, and both vertically and diagonally. The best direct hyperlinks in a hierarchy, insofar as they are hierarchical, are to 1's instant advanced or to one in all one's subordinates, despite the fact that a system that is largely hierarchical can also comprise alternative hierarchies. Hierarchical links can expand "vertically" upwards or downwards thru more than one hyperlinks in the same route, following a direction.
All components of the hierarchy that are not related vertically to one another although can be "horizontally" connected via a path by using travelling up the hierarchy to discover a not unusual direct or indirect superior, and then down again.
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Mike chooses a daas arrangement for his small business because it reduces costs. Why is daas less costly than the traditional alternative?.
Because there is "no in-house databases installation, maintenance, or monitoring," DaaS is less expensive than the conventional alternative, which is why Mike opts for it for his small business.
Define the method of DaaS arrangement?In a virtual desktop infrastructure known as desktop-as-a-service (DaaS), desktops are stored in the cloud and made available to remote users as needed. The backend of VDI is specifically hosted on the cloud. DaaS is also known as hosted desktop services, and it is typically provided by a third party.
Benefits of Hosted Desktops and DaaS
may be managed and deployed with ease.lowers the price of the hardware and running costs.less expensive to maintain and administer.scaled with ease and produces better performance.Networks have greater security and flexibility.Efficiency increases for the help desk.Thus, Because there is "no in-house databases installation, maintenance, or monitoring,"" DaaS becomes less expensive than the conventional alternative, hence why Mike prefers for it for his minor business.
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firms with limited resources often target a market niche that is either ignored or unimportant to larger firms. this represents a(n) _______ strategy.
Firms with limited resources often target a market niche that is either ignored or unimportant to larger firms. this represents a(n)concentrated marketing strategy.
A market is an area wherein consumers and dealers can meet to facilitate the exchange or transaction of goods and offerings. Markets can be physical like a retail outlet, or virtual like an e-store. different examples consist of illegal markets, public sale markets, and monetary markets.
In advertising, the term marketplace refers to the institution of consumers or groups that is inquisitive about the product, has the sources to purchase the product, and are allowed by way of law and different regulations to accumulate the product.
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an externality can be a cost or benefit arising from the production of a good that falls upon 1) consumers but not producers. 2) producers but not consumers. 3) both the consumer and the producer. 4) someone other than the consumer or producer
An externality can be a cost or benefit arising from the production of a good that falls upon (4) someone other than the consumer or producer.
What is an externality?An externality, also known as an external cost or benefit, is a consequence of another party's action that affects an unaffiliated third party indirectly. Externalities are unpriced items that are a part of both consumer and producer market transactions. One example of air pollution is caused by motor vehicles. Neither the makers nor the users of motorized transportation are responsible for covering the cost of air pollution to the rest of society. Another example is the pollution of water caused by companies and mills. Pollution damages all customers equally, yet the market does not make up for this harm. A cost or benefit resulting from the creation of a good that affects someone other than the customer or producer is known as an externality.Therefore, an externality can be a cost or benefit arising from the production of a good that falls upon (4) someone other than the consumer or producer.
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Customers are _________________ to expect low prices when they come in.
Customers are more likely to except low prices.
Why do customers prefer Low Prices?
A service or product can enter the market more easily and draw customers away from rivals by offering a lower price. Pricing for market penetration focuses on the tactic of utilizing initially cheap prices to make a large customer base aware of the a new product.
The majority of customers favor shops that consistently appear to offer lower pricing than the competitors. Examples are Walmart and Costco for consistently low costs.
Lower Prices saves Consumer's time
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The standard cost for blank______ manufacturing overhead is computed the same way as the standard cost for direct labor.
The variance in materials price and variance in materials quantity typically account for the difference between actual costs and standard (or budgeted) costs.
What is standard cost for materials?Cost accounting has a crucial subtopic called standard costing. In the past, direct material, direct labor, and manufacturing overhead expenditures for a manufacturing company have been considered standard costs.Some producers allocate the anticipated or standard costs rather than the actual costs of direct materials, direct labor, and manufacturing overhead to a product. This implies that a producer will start off with inventories and cost of goods sold that reflect standard costs rather than the real costs of a product. There are almost always differences between the actual costs and the standard costs, and the differences are noted as variances, as a manufacturer is required to pay its suppliers and employees the actual costs.Hence, The variance in materials price and variance in materials quantity typically account for the difference between actual costs and standard (or budgeted) costs.
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