Effective economic demand requires not merely need but also corresponding purchasing power.
What is purchasing power?Purchasing power can be defined as the quantity or numbers of goods or product that consumer can buy or purchase with the currency they have.
Inflation which is the rise in the price of goods and service can tend to affect purchasing power based on the fact that when their is increase in the prices of goods and service the amount of goods a person will buy will decrease.
Therefore Effective economic demand requires not merely need but also corresponding purchasing power.
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economics is the study of how individuals and societies allocate resources among many competing uses. (use one word for the blank.)
It is true that the economics is the study of how individuals and societies allocate resources among many competing uses.
What is economics?Economics can be described as study of scarcity as well as its implications for the use of resources as well as production of goods and service.
It also focus on the growth of production as well as the welfare over time, Scarcity which can be described as the economic concept is a basic fact of life which made us to understand that only a finite amount of human as well as nonhuman resources exists which is the best technical knowledge that is capable of using to produce limited amounts .
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CHECK COMPLETE QUESTION:
True or False economics is the study of how individuals and societies allocate resources among many competing uses. (use one word for the blank.)
Which involves maximizing the long-run value of the firm's stock and requires taking a long-run view of a firm's operations?
Shareholder wealth maximization involves maximizing the long-run value of the firm's stock and requires taking a long-run view of a firm's operations.
Who is a shareholder?A shareholder is sometimes referred to as stockholder and can be defined as an independent individual, organization or social group that has an interest in a particular business firm (corporation), and as such they can either affect or be affected by the decisions taken in the business.
What is shareholder wealth maximization?Shareholder wealth maximization can be defined as a strategic process which typically involves the maximization (efficient increase) of the long-run value of the stock of a particular business firm (corporation), and it often requires the business firm taking a long-run view of its operations.
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The most commonly accepted groups of asset classes include all of the following except:____.
a. stocks.
b. bonds.
c. machinery and equipment.
d. real estate.
The most commonly accepted groups of asset classes include all of the following except machinery and equipment.
Equipment maximum usually refers to a fixed of gear or other objects normally used to attain a selected objective. exceptional jobs require specific forms of device.
Device is a tangible long-term asset that blessings a commercial enterprise over numerous years of use. computers, vehicles and manufacturing machinery are all examples of equipment. they're tangible due to the fact they have got a physical form—not like intangible assets (such as patents, emblems or copyrights) that do not.
A tool may be any item that is used to reap a intention. equipment commonly denotes a set of gear which might be used to achieve a particular objective.
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an oil exploration company currently has two active projects, one in asia and the other in europe. let a be the event that the asian project is successful and b be the event that the european project is successful. suppose that a and b are independent events with p(a)
54.55% probability that only the Asian project is successful. As a and b are independent events.
What is independent events?Independent events are those whose occurrence is not reliant on other events. If we throw a coin into the air, and it lands on head, for instance, we can try again, and it will land on tail. The two events have occurred independently in both instances.
The two events are independent if the occurrence of one has no bearing on the likelihood that the other will also happen. If the incidence of one event has no bearing on the likelihood of the other, then the two events are independent in terms of probability.
Thus, it is 54.55%.
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The full question is missing-
P(A) = 0.8 and P(B) = 0.4. Given that at least one of the two projects is successful, what is the probability that only the Asian project is successful?
3. what is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend?
Cash dividends, which entail a corporation using available cash and paying it out to shareholders, are well-known to most investors.
Even while the accounting isn't always as simple as it is with cash dividends, adjustments must still be made to the company's balance sheet when dividends are paid in shares of stock. Prior doing that, we'll go over the relevant accounting difficulties and calculate how retained earnings respond to a stock dividend.
A firm effectively distributes earnings it has held to shareholders when it pays a dividend. Cash dividends decrease the amount of cash on the asset side of the balance sheet, and they also have an equivalent impact on the retained earnings in shareholder equity.
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Labor charges that cannot be easily traced to a job are considered ______. manufacturing overhead direct labor indirect labor
Labor charges that cannot be easily traced to a job are considered manufacturing overhead direct labor.
The total amount of pay, benefits, taxes, and insurance paid to employees by an employer is referred to as labor cost.The hourly compensation of a quality assurance inspector, adjusted to incorporate healthcare benefits and short-term disability, is one example of a direct labor cost. Another example would be the annual wage of a welder on a steel components manufacturing company's production line.The wages paid for the labor directly involved in production are referred to as direct labor expenses. Manufacturing overhead costs, such as factory rent, utilities, general maintenance charges, and indirect labor, are costs that cannot be directly traced to a specific product or batch of products.Manufacturing overhead costs are referred to as indirect costs since they are difficult to attribute to specific products.Thus this is the meaning of Labor Charges.
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which market analysis component includes consideration of the state of the economy, the physical environment, government regulations, and technological developments? multiple choice question.
The market analysis component that includes consideration of the state of the economy, the physical environment, government regulations, and technological developments is market trends.
A market analysis investigates the allure and dynamics of a specific market within a specific industry.
A market analysis is a documented investigation of a market that is used to inform a firm's planning activities, particularly decisions about inventory, purchase, workforce expansion/contraction, facility expansion, capital equipment purchases, promotional activities, and many other aspects of a company.
It is included in the industrial analysis, and hence in the global environmental analysis.
All of these assessments can be used to determine a company's strengths, weaknesses, opportunities, and threats (SWOT).
Market trends are the rising or downward movement of a market over a specific time period.
Aside from information regarding the target market, one must also know about one's competitors, customers, products, and the most recent market developments.
Finally, you must assess marketing effectiveness. Among the techniques are:
Customer researchModeling of optionsAnalysis of competitorsRisk assessmentProduct research Promotion of the researchMarketing mix simulationTest Simulator MarketingMarket changes are significant because they can generate new possibilities and risks.
Furthermore, they have the ability to significantly impact market size.
Changes in economic, social, regulatory, legal, and political conditions, as well as accessible technology, are examples of market trends. Price sensitivity, the need for diversity, and the level of emphasis on service and support are further examples.
Hence, market trends is the answer.
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With respect to personal finance, what is the name of the most commonly used credit scoring system intended to help lenders predict how likely an individual is to repay a loan, or make credit payments on time?.
The most widely used credit scoring system for personal finance, known by the acronym FICO Score ,i.e. Fair Isaac Corporation.
It was created to assist lenders in determining whether or not a potential borrower will be able to repay a loan or make credit payments on time.A consumer's creditworthiness is indicated by a credit score, which ranges from 300 to 850. A borrower will appear better to potential lenders if their score is higher. A credit score is based on a person's credit history, which includes the number of open accounts, total debts owed, payment history, and other elements. Credit scores are used by lenders to assess a borrower's likelihood of timely loan repayment.These three companies (Equifax, Experian, and TransUnion )control the industry for gathering, evaluating, and disseminating data about customers in the credit markets. Fair Isaac Corp., now known as FICO, developed the credit score model, which is utilised by financial institutions.
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Which of the following is not a way to reduce risk?
a. diversifying investments.
b. obtaining more information about choices and payoffs.
c. by considering fewer alternatives.
d. buying insurance.
c. by considering fewer alternatives. is not the way to reduce risk.
Reduce risk discount every so often known as catastrophe threat management is a scientific approach to identifying, assessing, and decreasing the dangers of disaster. Its ambitions to reduce socio-economic vulnerabilities to catastrophe as well as deal with the environmental and other risks that trigger them.
Employees can lessen the chance of capacity challenge risks by figuring out them early. If something does move incorrectly, there will already be a motion plan in place to address it. This allows employees to prepare for the surprising and maximize assignment outcomes.
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the existence of cash is always relevant, and valuation a relevant assertion for the cash account
Classification is normally not a relevant assertion. Cash is almost always a current asset. But when bank overdrafts occur, classification can be in play.
What is current asset ?All assets possessed by the corporation that can be turned into cash within a year are recorded in the Current Assets account, which is a line item on the balance sheet under the Assets heading. Current assets are things that have worth that is shown in the Current Assets account.
The following list of liquid assets is comprised of current assets: cash, cash equivalents, accounts receivable, stock inventory, marketable securities, and other liquid assets. Current Assets can also be referred to as current accounts.
The balance of a company's assets that can be liquidated, used, or sold for cash within a year are represented in the account known as "Current Assets," which is reported on a balance sheet.
The following list of liquid assets is comprised of current assets: cash, cash equivalents, accounts receivable, stock inventory, marketable securities, and other liquid assets.
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while shopping, lisa buys powdered milk since her favorite brand of organic milk is out of stock. she also buys a torch for her trekking trip and a pair of batteries for the torch. while waiting at the payment counter, she notices the colorful lollipops displayed at the counter. she purchases the lollipop even though she did not plan on buying one before entering the store. when considering all of lisa's purchases, which one is an example of a substitute product?
The substitute product is powdered milk.
A product that fulfills the same function as another one on the market is referred to as a substitute. A consumer can desire less of the other product if they have access to more of one commodity. There is a bad link between demand for alternatives and supply. This means that using one product eliminates or lessens the need for the other.In microeconomics, two things are considered substitutes if customers may use them for the same purpose. Having more of one thing makes a buyer want less of the other good because they regard both goods as similar or equivalent.Two products are said to be interchangeable if a client can purchase either one in its place, whereas complimentary products are those that are frequently purchased together.Thus the example of substitute product in this is powdered milk.
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project management appears to be ideally suited for a business environment requiring accountability, flexibility, innovation and repeatability.
Project management appears to be ideally suited for a business environment requiring accountability, flexibility, innovation exept repeatability.
Competing in a global market influenced by rapid change, innovation, and time to market means organizations manage more and more projects.
A task manager, with the help of their group, is charged with more than one duty that spans the five project stages of an assignment life cycle (initiating, making plans, executing, tracking, and ultimately).
Within the broadest sense, project managers (PMs) are liable for making plans, organizing, and directing the completion of specific initiatives for an organization whilst ensuring these initiatives are on time, on finances, and within scope.
Essentially, a project manager who's certified has the temperament, competencies, and enjoy wanted for the placement. standard requirements normally encompass a minimum of three years of experience in an associated position, the potential to communicate, formal education, and a PMP certification.
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all countries face the questions of what, how much, and with whom they should import and export. how they answer these questions primarily affects whether .
Every country has to decide what, how much, and to whom to import and sell. their responses to these questions essentially determine if. The location of a company's current production will be competitive.
How do import and export work?
Any good or service that is brought into a country from another is considered an import, whereas exports are goods and services that are created in the place of origin and sold elsewhere. In light of this, your approach to the transaction determines whether you're importing or exporting a product (or both).
A product is considered to be exported when it is sold to a foreign nation, as opposed to being imported when it is bought for domestic consumption. The world, including Canada, Mexico, the European Union, Australia, and other Asian nations, has successfully imported tablets from Ellen's country.
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Prior service costs are charged to the _______________ account when a company adopts a new pension plan.
The Prior service costs are charged to the other Comprehensive Income. account when a company adopts a new pension plan. The process of identifying the expenses connected with building, supporting, and providing your service is known as service costing.
Equipment, staff labor, professional fees, software, license fees, and data center charges are just a few examples of the service cost components. To determine a reasonable profit margin, consider your costs, the market, your perceived value, and the time invested. Customer Support Income are the expenses incurred by a Party in order to charge, collect, and provide the relevant Customer Services.
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exercise 8-18 complete the accounting cycle (lo8-1, 8-2, 8-4, 8-6) skip to question on january 1, 2021, the general ledger of acme fireworks includes the following account balances: accounts debit credit cash $ 25,100 accounts receivable 46,200 allowance for uncollectible accounts $ 4,200 inventory 20,000 land 46,000 equipment 15,000 accumulated depreciation 1,500 accounts payable 28,500 notes payable (6%, due april 1, 2022) 50,000 common stock 35,000 retained earnings 33,100 totals $ 152,300 $ 152,300 during january 2021, the following transactions occur:
The complete accounting cycle is $4200.
Date Explanations Post |pebit(S)| Cred)
Date Explanations Post | pebinS| Creat) 25rd Jon Cash 125,40]
Accounsreochable 735.400
ed Ton Cash 5000
ee 70 (a record cach received rom
|(To record cash received in Jeccounts receivable)
advance for gif cards)
Date Explanations Post | peba(s| Credits)
a 2 of ref. Debits) | Credi(s) 30th Jan |Cash_ 11,000|
Dat Botner | Tasca) 25 mca al ao [scons T5200
oP = ca 30,000 Sales revenue 145,000
are T7000 (o record cash paid for accounts
sp ia yale of in ‘Cost of goods sold. 79,500]
[fo record Inventors purchased site om
lon around) \(To record sales and cost of
Post sole)
Date a | Debit(S)| Credit(S)
Tan Allowance for molecule accounts 300)
D Purl Post Poa lc [Bad DBS expenses 600
bal operations ret_ [Pett )| Cred Accounts rehab 300 = Tipkawoies Pot Tynan)
Ti Tan [Accomisrecchable 155,00) [eo record written aff the : te
Sas Reese 135,000] account receivable) 3rd Ten | Salaries expense 33,00)
~ Cash
[Cost of goods sold 73.0) Accounts receivable of $4,600 is written off by the allowance created for uncollectible [0 record salaries expense PID
are Faaoal Account of $4,200,
As Well as balance amount of accounts receivable such as ‘As salaries are Teoorded as an expense, therefore, debited as per coating rule and cash
Ses 600($4,800 = $4, 200) is written off by debiting bad debts expenses is erected because it decreased as an asset.
|cost of sold goods)
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the six sigma team collaborates with designers to ensure that final design outputs include which of the desired attributes?
The six sigma team collaborates with designers to ensure that final design outputs include Design for cost, design for test, design for maintainability desired attributes.
Six Sigma is vital in a business application because firms must remain profitable in order to survive, and Six Sigma is a powerful tool for that purpose.Six Sigma is a method that analyzes and reduces errors or faults using statistics and data analysis. The goal of this procedure is to reduce manufacturing defects to no more than 3.4 defects per million units or events while improving cycle times.Six Sigma is a statistical and data-driven method that operates by analyzing and reducing errors or flaws. It focuses on improving cycle times while limiting manufacturing faults to no more than 3.4 occurrences per million units or events.Thus this is the meaning of six sigma.
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In islamic finance, a(n) ________ is a sharia-compliant mortgage. group of answer choices fatwa halal ijara sukuk
In Islamic finance, a sukuk is a sharia-compliant mortgage. Thus, the correct answer option to this question is (d) sukuk.
Islamic finance is the sort of financing activity that is adhered to Islamic Law, also called Sharia. A sukuk is a sharia-compliant Islamic financial mortgage through which an investor group gains direct partial ownership on the assets of an issuer until a specific future date.
Since the traditional type of Western interest-paying bond structure is not allowed in Sharia, the issuer of a sukuk primarily sells a mortgage to an investor group. Then the issuer uses the received amount to purchase an asset that has direct partial ownership interest with the investor group. The issuer also makes a contract to buy back the bond in future at a specific date with specified value.
While the other options are incorrect because:
Fatwa: In Islam, fatwa refers to a legal opinion of a qualified scholar on some point of Islamic principles. Halal: Halal refers to all permissible things and doing in Islamic Law.Ijara: In the context of Islam, ijarah means providing something on rent.
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max weber believed that bureaucracy prevents a firm from achieving a competitive advantage because it is inefficient and is plagued with management problems.
According to Max Weber, a bureaucratic organization never gains a competitive advantage since it is ineffective and has several management problems. According to Max Weber, a bureaucracy is the most perfect type of organization since it is logically sound, effective, and reasonable.
A company's ability to produce goods or services faster, more efficiently, or for less money than its competitors is known as a competitive edge. These elements enable the producing unit to outperform its competitors in terms of sales or margins. Cost structure, branding, the standard of the product offers, the distribution system, intellectual property, and customer service are just a few examples of the variables that are thought to contribute to competitive advantages. Due to particular advantages or circumstances, a company and its stockholders can benefit more from competitive advantage.
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where qs is the quantity supplied of the good, p is the price of the good, pi is the price of an input, and f is the number of firms producing the good. now suppose pi
P = -147.5 + 0.125Qs is the equation when qs is the quantity supplied of the good, p is the price of the good, pi is the price of an input, and f is the number of firms producing the good.
How is price determined of any product ?
The law of supply and demand governs how much a thing costs. Consumers have a need for a product, and manufacturers create a supply to satisfy this need. The price at which quantity supplied and amount sought are equal is the equilibrium market price of an item. On a graph, the equilibrium price is where the supply and demand curves connect.
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when marcus meets with lily and talks to her about the advantages of the service offered by his company, he is engaging in
When Marcus met with lily, and talks to her about the advantages of the service offered by his company, he is engaging in Personal Selling.
What is personal selling?
Personal selling is a face-to-face selling method by which a salesperson uses his or her interpersonal skills to convenience a customer in buying a particular product. The salesperson tries to highlight the features of the product to convince the customer that it will only add value. However, getting a customer to buy a product is not the only motive behind personal selling every time. Often companies try to follow this approach with customers to make them aware of a new product that they launched.This helps companies to gain customers and it also helps in the brand promotion.To learn more about personal selling, refer to:
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When Marcus met with lily and talks to her about the advantages of the service offered by his company, he is engaging in personal selling.
What is personal selling?Personal selling commonly referred to as face-to-face selling, involves one salesperson persuading a customer to purchase a product. It is a type of advertising where the salesperson makes an effort to close a deal by applying his or her knowledge and skills.Personal selling is frequently used to market and sell products with moderately high pricing or complicated features. Excellent examples include vehicles, office supplies (such photocopiers), and a wide range of goods offered by companies to other industrial clients.When Marcus met with lily and talks to her about the advantages of the service offered by his company, he is engaging in personal selling.There are four types of selling, namely
Transactional selling.Solution selling.Consultative selling.Provocative selling.To learn more about personal selling, refer to:
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The innovator's dilemma suggests that established companies can take advantage of ________ without hindering existing relationships with customers, partners, and stakeholders.
According to the innovator's dilemma, established businesses can benefit from disruptive technology without harming their current connections with clients, partners, and stakeholders.
The innovator's dilemma describes a situation in which there are established competitors in a certain market who are spending on sustainable innovations, which are little upgrades to an existing product. Typically, they do it to accommodate the evolving demands of their clients.
A disruptive technology is one that displaces an existing technology and changes the market, or it might be a ground-breaking invention that creates a whole new market. At Harvard Business School, professor Clayton M. Christensen was the first to deploy disruptive technologies.
Examples of recent disruptive technologies include online news sources, ride-sharing services, GPS systems, and e-commerce.
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The __________ phase of the secsdlc begins with a directive from upper management specifying the process, outcomes, and goals of the project as well as its budget and other constraints.
The analysis phase of the secsdlc begins with a directive from upper management specifying the process, outcomes, and goals of the project as well as its budget and other constraints.
In the analysis stage, several elements that have been gathered and processed are scrutinized, correlated, and given the essential context to make them valuable. This is the point at which intelligence transforms from merely being a collection of haphazardly related facts into a finished good that is helpful in making decisions.
What does analysis phase example entail?
Examples include distributed client-server systems, in which a server-side database stores the data while the client-side algorithms that manipulate the data are located there. The linking of data structures and algorithms to create objects with methods results from an object-based decomposition.
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The _____ is a national organization composed of all nongovernmental, independent, local regulatory agencies that act to preserve good business practices.
The Council of Better Business Bureaus is a national organization composed of all nongovernmental, independent, and local regulatory agencies that act to preserve good business practices.
BBB NP brings together business, industry, and trade associations to address national and international concerns and promote industry best practices related to truthful advertising, child-friendly marketing, privacy, and dispute resolution.
Once a complaint is submitted to the Better Business Bureau, they will determine if it is an issue that can be handled. For example, BBB does not deal with pricing, policies, employer or employee disputes, or anything related to professional processes or government agencies.
One way the BBB makes money is by hiring companies to be "certified." If a company is accredited, it can use the BBB accredited logo and customers will see the company as more trustworthy. To be accredited, a company must submit an application and pay a fee.
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In deciding to purchase the louisiana territory, president thomas jefferson had to overcome the problem of?
In deciding to purchase the Louisiana territory Thomas Jefferson had to overcome the problem of his group the Democratic-republican party hating him as he only did something expanding the power of the president when they're supposed to limit it.
One of the largest land transactions in history was the Louisiana Purchase. Over 800,000 square miles of land were purchased by the United States from France in 1803 for roughly $15 million. Although this property sale was undoubtedly the president Thomas Jefferson's greatest accomplishment, it also presented Jefferson with a serious philosophical problem. The land area of America roughly doubled after the Louisiana purchase of this new territory. However, the purchase did not specify the precise southern and western limits. The specifics of these borders would need to be negotiated between America and Spain.
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a project under strict terms and conditions to produce project deliverables on time or suffer late penalties is an example of a: commercial risk. technical risk. legal risk. execution risk.
A project under strict terms and conditions to produce project deliverables on time or suffer late penalties is an example of an execution risk. Hence option (d) is correct i.e. Execution Risk.
Execution risk involves the delay in project deliverables or goods and services. Execution risk involves late delivery and delay the completion of project output, which thus put the task significantly further behind.
To avoid the execution risk, it is the responsibility of managers to do whatever it takes to stay away from those obstacles, have a greatly improved possibility of making excellent expectations on time and on financial plan. A strong comprehension of execution risk assists the management with recognizing the particular dangers to project deliverables more rapidly and precisely.
While the other options are incorrect because:
Commercial risk is related to commercial activities, for example, what would be happened with the project or output of the project if the economy fluctuates, or if commercial circumstances get change.Technical risks are the risk attached to the maturity of the technology and the existence of the technology required to execute the project or develop the project outcome or deliverables. Legal risk is attached to the project if it goes beyond the rules set by the government or higher authority where the project is executed and deployed.You can learn more about project risk management at
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which one of these documents itemizes the closing costs and explains the terms of your loan? appraisal closing disclosure deed affidavit
A loan is a type of debt that a person or another organization takes on. The borrower receives a sum of money from the lender, which is typically a corporate or government.
What is loan ?The term "loan" refers to a specific category of credit instrument in which a sum of money is lent to another party in return for the value or main amount's repayment in the future. In many circumstances, the lender also adds interest or finance charges to the principal amount, which the borrower must repay in addition to the principal sum.
Loans may be made for a predetermined, one-time sum or as an open-ended line of credit up to a predetermined limit. There are many various types of loans, including secured, unsecured, commercial, and personal loans.
A loan is when money is provided to someone else with the understanding that it will be repaid, along with interest.
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discuss some of the difficulties a company like bose might experience when trying to implement just-in-time purchasing with international suppliers.
There are mainly three types of problems arise during the implementation of the just-in-time purchasing system.
The just-in-time purchase means a process in which the goods are only purchased when the company received demand. There are three main problems in this:
1. Problem in forecasting: When a company implement this rule it creates difficulty for the company to forecasting because they did not know the actual quantity to purchase.
2. Coping with the demand:
It becomes very difficult of the company to suddenly order the raw material for meeting the demand.
3. No control on supply:
In this the company has no control on the supply chain because the company does not know when they get order for the goods.
Hence, these are some of the problems faces by a company by implementing the just-in-time purchase.
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To identify customers who are most likely to make catalog based purchases, you can use:__________
a. file based decision making
b. predictive analysis
c. porter s model
To identify customers who are most likely to make catalog-based purchases, you can use b—predictive analysis.
Predictive analytics is the use of data, statistical algorithms, and machine learning techniques to determine the likelihood of future outcomes based on historical data. The aim is to go beyond knowing what happened to better assess what will happen in the future. Story.
Predictive analytics includes a variety of statistical techniques ranging from data mining, predictive modeling, and machine learning that analyze current and historical data to make predictions about future events. future or unknown events. It involves applying statistical analysis techniques, data queries, and machine learning algorithms to datasets to create predictive models that assign a numerical value - or score - to the likelihood stock or a particular event occurring.
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if $185.30 is withheld from each of bob’s paychecks, what is his family’s annual health insurance premium? a. $805.65 b. $4,817.80 c. $6,256.88 d. $20,946.96
Bob's family's annual health insurance premium is: c. $6,256.88.
First step is to calculate the paychecks
Paychecks=$185.30 x 26
Paychecks=$4,817.80
Second step is to calculate insurance premiumHealth insurance premium=$4,817.80/(100%-23%)
Health insurance premium=$4,817.80/77%
Health insurance premium=$6,256.88
Inconclusion his family's annual health insurance premium is: c. $6,256.88.
An insurance premium is the sum of money an individual or organization pays for a policy of insurance. Health, vehicle, house, and life insurance plans all have premiums that must be paid. The premium is the insurance company's source of income after it is earned. It also carries a risk because the insurer is responsible for paying claims that are made in accordance with the terms of the policy. The insurance may be cancelled if the individual or business does not pay the required premium.
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Communication through the use of brochures, annual reports, event sponsorships, and news stores is referred to as?
Word-of-mouth marketing is the practice of customers talking to one another informally and personally about goods, services, and businesses.
What is Word-of-mouth?Word of mouth, often known as viva voce, is the spoken transmission of information from one person to another. One person telling another a story about a true occurrence or a made-up one is a popular kind of word-of-mouth communication. Oral tradition refers to cultural information and traditions that are passed down orally via several generations. Oral tradition and storytelling are two examples of word-of-mouth communication that are significant in folklore and mythology. Oral history, which involves the recording, preservation, and interpretation of historical data based on personal experiences, is another example of oral communication.
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