-sports car=elastic demand (price is much more of a factor in purchase of a sports car bc it is a LUXURY)
-chemotherapy=inelastic demand (necessity=ppl willing to pay the price)
What is Least Elastic Demand?
Cost factors directly affect business activities. Several cost drivers can be associated with activities. For example, direct labor hours are the driving force behind most product manufacturing activities. High labor costs increase the cost of producing all of a company's products or services. When the cost of maintaining inventory is high, so are the costs of manufacturing products and providing services.
[tex]P E_{d}=\frac{\% \text { Change in } Q t y}{\% \text { Change in Price }}[/tex]
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mauricio, the owner of pizza aroma, spent $2,500 of his own money to take his family to disney world. pizza aroma's financial statements will report
Based on the fact that Mauricio took $2,500 of his own money to take his family to Disney world, Pizza Aroma's financial statements will report nothing of the trip.
What would be reported?When it comes to reporting transactions in the financial statements of a company, only the transactions that affect the company are to be recorded. Personal transactions by the owners and employees of the business are not be recorded because they do nothing to the business directly.
This means that Mauricio taking his family to Disney World will not be reported on Pizza Aroma's financial statements because it does not affect Pizza Aroma directly.
Options for this question include:
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the core principles of economics — end of chapter problem jia is considering whether to go out to dinner at a restaurant with her friend. the meal is expected to cost $40, jia typically leaves a 20% tip, and an uber will cost $5 each way. jia values the restaurant meal at $25. jia enjoys her friend’s company and is willing to pay $30 just to spend an evening with her. if jia does not go out to the restaurant, she will eat at home, using groceries that cost her $8.
As per Principles of Economics, Going out has a benefit of $63 which includes $25 and $30 as Jia enjoys her friend's company, $8 if Jia cooked her meal at home instead of going out.
Let's evaluate the advantages jia would receive from dining out with her friend:
She valued the remaining portion of the meal at $25. In addition, she values her friend's company at $30 because she enjoys being with her and is prepared to pay that amount to spend an evening with her.
If she chooses not to eat out, she should prepare a meal at home with groceries she bought for $8. Basically, she can save these 8 dollars if she goes to dinner with her buddy. This is an additional benefit, and when we add each of these sums the benefit of going out to dinner is 63 dollars.
Total Benefit = 25+30+8= 63
Going out has a benefit of $63 for her.
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Jay spent $58 for her buddy and her supper at a restaurant: $40 for the food, $8 for the tip, and $10 for the uber.
Jay will save $63 by dining out with her friend. He will save $25 for the cost of the meal, $30 for an evening with her, and $8 if he chooses not to go.
Let's assess the benefits Jia might experience by dining with her friend:
She put a $25 value on the remaining course of the dinner. She also values her friend's company at $30 since she likes being around her and is willing to shell out that much for a night out.
She should use the $8 worth of food she purchased to make a supper at home if she choose not to dine out. In essence, she may save these 8 dollars if she dines with a friend. When we tally up all of these benefits, we find that going out to supper has a net benefit of $63 dollars.
Benefit overall = 25+30+8=63
She receives an advantage of $63 from going out.
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The best way to protect yourself from identity theft is to _____. a. keep your social security card in your purse or wallet b. select a bank that is fdic insured rather than ncua insured c. regularly checking your credit report. d. only purchase items from the internet
Answer: C regularly checking your credit report
Explanation:
The best way to protect yourself from identity theft is to regularly checking your credit report. The correct answer option to this question is (c) regularly checking your credit report.
Identity theft is a malicious digital activity by someone who illegibly acquires your credit card details and uses it for identity fraud like applying for loans, cloning credit cards and buying goods and services. Identity theft is a greater risk when transmitting credit and debit cards information while shopping online. The risks associated with identity theft can be prevented if you are checking your credit report regularly.
A regular checking of credit report can prevent you from identity theft. By this, you have a check on your bank statement and credit card bills. Checking credit report regularly enables you to encounter and report any fraudulent activity immediately. By doing so, you can prevent your credit from a greater loss and damage.
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If jay's fruit stand is able to charge considerably higher prices than other fruit stands with the same produce, it is likely that?
If Jay's Fruit Stand is able to charge significantly higher prices for the same produce than other fruit stands, it is most likely because: there are no fruit stands nearby and Jay has the benefit of location of business.
More about location of business:
The location of a firm favourably influences its ability to attract both a customer base and the calibre of talent necessary to sustain its operations.
The location of a business helps in the development of a brand and image because every city has sections with a reputation, whether it be for simple life or extravagant wealth. Positioning has always been an important factor in business setup.
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After 48 hours, a mantoux test is evaluated. at the site, there is a 10 mm induration. this finding would be considered?
After 48 hours, a mantoux test is evaluated. At the site, there is a 10 mm induration. It would be the considered of the significant. Thus, option (a) is correct.
What is tested?
The term test refers to the substance of the reaction as the test. The test was to clarifies as the true and the false. The researcher is the test apply on the research.
The significant to the relationship as the considered. The mantoux test is evaluated in an after the 48 hours. At the site was the mainly 10 mm induration. They are the significant to each other. It was the test is evaluated.
As a result, the considered of the significant. Therefore, option (a) is correct.
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Your question is incomplete, but most probably the full question was.
a) Significant
b) Nonreactive
c) Negative
d) Not significant
the contingency approaches explain the relationship between leadership styles and effectiveness in specific situations.
It is TRUE that the contingency approaches explain the relationship between leadership styles and effectiveness in specific situations.
What is contingency approaches ?The contingency approach to management, can as well be described as the situational approach, which explains that there is no single, textbook rule that gives the best way to manage an organization.
It should be noted that this approach made us to understand that “best” approach will be contingent upon the company's internal and external needs.
In conclusion , It is TRUE that the contingency approaches explain the relationship between leadership styles and effectiveness in specific situations.
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british government 4% perpetuities once paid £4 interest each year forever. another bond, 2.5% perpetuities, paid £2.50 a year forever. what was the value of 4% perpetuities if the long-term interest rate was 6%?
The value of 4% perpetuities if the long-term interest rate was 6% was $66.67
Calculation
PV of perpetuity = C/r
r =.06 C = £4
PV= 4/.06 = $66.67
What is perpetuity?A security that pays for an endless period of time is known as a perpetuity. A perpetual sequence of similar cash flows is referred to as perpetuity in the finance industry.
Several financial models, including the dividend discount model(DDM), also make use of the idea of perpetuity .
A succession of payments is known as an annuity. A perpetuity is a kind of annuity that is guaranteed to continue indefinitely. For all eternity, the cash flows will keep coming in. The perpetuity calculation in valuation methodology is used in finance to determine the present value of a company's cash flows when discounted back at a specific rate.
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project management systems need to balance the organizational structure and that of the project group with respect to .
Project management systems need to balance the organizational structure and that of the project group with respect to authority.
The way that work moves through an organization is determined by its organizational structure. It enables teams to manage tasks within the confines of their respective responsibilities. You can determine your company's leadership hierarchy and information flow with the aid of an organizational structure. An organizational structure is a set of guidelines, designations, connections, and obligations that spell out how your business's operations are coordinated to achieve its objectives.
By outlining the formal reporting relationships that control the workplace processes of the corporation, organizational structure provides direction to all employees. A formalized description of a company's organizational chart makes it simpler to create new positions inside the organization and offers a flexible and ready means for expansion.
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The price of a dozen eggs rises from $3 to $4. 70. In response to this price change, quantity supplied increases from 100,000 dozen eggs to 127,000 dozen eggs. What is the approximate price elasticity of supply for eggs?.
The elasticity of supply is 0.54 and it is less than 1 so the supply is inelastic.
Change in quantity = 127000 – 100000 = 27000
Average quantity = (127000 + 1000000) / 2 = 113500
Change in price = 4.7 – 3 = 1.7
Average price = (4.7 + 3) / 2 = 3.85
Elasticity of supply =( [tex]\frac{Change in quantity}{average quantity}[/tex][tex]/ \frac{change in price}{average price}[/tex])
Elasticity of supply = (27000/113500) / ((1⋅7)/3.85)
Elasticity of supply = 0.54
The elasticity of supply, sometimes referred to as price elasticity of supply, gauges how sensitive the amount provided is to a change in a good's price, all other things being equal.
Prices will rise and supply volumes will grow in response to rising demand for a good or product. The elasticity of supply determines how quickly it rises.
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A caregiver at a daycare center is playing with an infant. she is smiling and making faces at the infant. the infant smiles back almost instantaneously. this is most clearly an example of?
A caregiver at a daycare middle is playing with an infant. she is smiling and making faces at the little one. the toddler smiles returned almost at once. this is maximum without a doubt an example of synchrony.
A caregiver or carer is a paid or unpaid member of someone's social network who facilitates them with activities of day-by-day living. due to the fact that they have no precise professional education, they are often described as casual caregivers. supporting with private care: bathing and grooming, dressing, toileting, and workout. basic food guidance: getting ready food, purchasing, house responsibilities, laundry, and other errands. trendy fitness care: overseeing medicine and prescriptions utilization, appointment reminders, and administering medicine.
In widespread, there are four kinds of caregivers: domestic fitness Care, Assisted living centers, Nursing homes, and grownup Daycare facilities.
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ron king is a single airline ticket agent who claims 1 allowance. his gross weekly salary is $320.00. each week he has deducted federal, social security, and medicare taxes; $26.20 for medical insurance; 1.5% state tax; and $25.00 for the credit union.
The total deductions are $ 124.32 and the net pay will be $195.68.
What are net pay and state tax?If a taxpayer's income exceeds the state's filing threshold in any given year, they are required to file tax returns in that state. Regarding the recognition of income and deductions, several states follow federal regulations. Some may even demand that the individual file their state income tax return together with a copy of their federal income tax return.
Deduction = ∑(24 + 19.84 + 4.44 + 4.80 + 24.20 + 25)
= 124.32
Net Pay will be
320 - 124.32 = 195.68
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n order to financially support himself, evander either had to select answer working for the military division or needed to select answer unemployment benefits. in order to receive unemployment benefits, evander could not select answer , but instead had to select answer . evander’s company did not select answer him; instead, it allowed him an opportunity to continue working, but for the military division.
Evander had to either between working for the military division or choose unemployment benefits in order to maintain himself financially. Evander was unable to choose a response, but was forced to do so in order to be eligible for unemployment benefits. Evander's employer chose not to respond to him but rather gave him the chance to work again, albeit in the military sector. Thomas had to continue working for the military division or apply for unemployment compensation in order to maintain his financial stability.
When a person is able to work and wants to work but cannot locate a position that suits them, they are considered to be unemployed. A group of unemployed people are referred to as being "unemployed" or are given a numerical value. The definition given by the U.S. Bureau of Labor Statistics is the number of people who are jobless, have actively looked for work over the preceding four weeks, and are available for employment (BLS). The BLS's data on unemployment also includes people who are currently unemployed but are awaiting a call back. The BLS offers information on unemployment in its U-3 report, which is a part of its monthly jobs report. In order to determine unemployment, monthly household surveys known as the Current Population Survey are used (CPS).
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When prices are increasing at a rate of 12 percent, the cost of products would double in about how many years?
If prices are increasing at a rate of 12 percent, the cost of products would double in 6 years .
What is Increasing Rate of Products ?
Product pricing increases as a result of a variety of factors, including rising costs, more services, improved quality, and so on. When a corporation decides to raise their rates, we discovered that it is due to one of two factors: either increasing costs or incorrect economics in the first place. The other major issue is taxation.
Taxes cause price increases. Companies who have their act together and run efficient operations will include taxes in their costs, even if they are "below the line." Be assured that if taxes rise, so will consumer prices. When we work with customers to help them become more lucrative, one of our aims is to look at their prices.
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at one point in the evolution of marketing, the united states entered a buyer's market and the customer became king. which era is being described?
This era is being described as market-oriented. Thus, option D is correct.
What is marketing?Marketing can be defined as the way through which the market transaction is being done, in this case, the customer is being made aware of the product or service that is being given to them.
As in recent times, the competition has increased between the business, and the customer has also been more oriented toward what he was he want. This name that the market is being oriented to be a market-oriented where the more the protection the most profit of form of company can get. Therefore, option D is the correct option.
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The question is incomplete, the complete question will be:
Which era is being described?
Select one:
a. economics-oriented
b. value-based marketing
c. production-oriented
d. market-oriented
e. sales-oriented
Jane is willing to pay $80 for a pair of shoes. the actual price of the shoes is $50. her marginal benefit from the pair of shoes is?
The marginal benefit for Jane is $80. The cost of the shoes is $50 but still Jane is willing to buy them for $80.
The marginal benefit can be described as the maximum amount a person is willing to pay for that additional good or product. The marginal benefit usually reduces with the increase in consumption of the product. Utility can be defined as the satisfaction the person will get by consuming that good or service.
The marginal benefit usually declines when the person buys more of a product. For example, Jane was willing to pay $80 for a pair of shoes. Maybe another pair of shoes of the same kind she will not be willing to spend that much as she already has a pair of shoes. So when the customers keep on buying the same product the marginal benefit will reduce.
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maeleigh finds a new supplement ad online. what is the most important thing she should consider as she is reading this advertisement?
The most important thing maeleigh should consider as she is reading this advertisement is that Who is reporting the information, who conducted the research on the supplement, and who paid for the research to take place.
What do supplements mean?Vitamins, minerals, herbs, amino acids, enzymes, and other compounds taken in a number of forms, such as a pill, gel, capsule, gummy, powder, drink, or food, can all be included in dietary supplements. The most typical examples of this type of supplement are multivitamins, herbal supplements, probiotics, and yes, protein powders and weight reduction pills all come into this category.
A supplement is meant to "supplement" your overall diet by bridging the gap between your regular dietary consumption and nutrient requirements. When there is a greater need for nutrition, supplements, particularly those containing vitamins and minerals, can be helpful. For instance, there is a greater demand for nutrition, vitamins, and minerals during pregnancy, especially folic acid, which helps to avoid birth abnormalities. Some other persons lack particular vitamins or minerals, including iron or vitamin D, or they have malabsorption problems, making it difficult for them to satisfy their nutritional needs.
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Define scope, schedule, cost, and customer satisfaction. why are these considered to be constraints?
Scope defines the limit about how much work can the company do. The schedule refers to the time period. Costs refer to the cost the company has to bear. Customer satisfaction refers to the satisfaction the customer will have by consuming the product. These are considered constraints because there is only a limit to which the company can afford this.
The scope is the limits that the company has to work under. There will be many resources that may be available that the company can make use of but does not. This may be because using those resources it may be outside the scope of the company and the company may not be able to utilize them.
The schedule refers to the period in which the product may be ready for sale by the company. It may also refer to time schedule regarding the working of the employees. These are also constraints as there will be some limits before which the work cannot happen. The cost refers to all the different costs of the company. This may refer to variable cost, fixed cost, opportunity cost, etc.
The company will have to keep these costs into consideration while pricing the product. So in this way, the costs are also considered to be constraints. Customer satisfaction is the fundamental factor that governs the profit and loss of a business. The customer has to be satisfied then only he will buy from us. So there may sometimes be situations when this may not be possible.
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which of the below should be the most alarming to a company’s ceo looking at the company’s cash flow statement?
Negative cash flow should be the most concerning sign for the CEO of the company.
What is the cash flow statement?
The cash flow statement is a statement that shows the company's cash inflow and cash outflow.
Cash flow from operations consists of expenditures incurred in the normal course of business. When the CEO of the company examines the company's cashflow statement, the most concerning indicator for him is the cashflow statement's negative balance. The negative cashflow balance indicates that the company's cash inflow is less than its cash outflow. It means that the company's cash outflow is greater than its revenue. This reflects the company's poor financial situation.
Therefore, as a result this is the most concerning indicator for the company's CEO.
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an environmental scan will include forces impacting a business by way of state and federal laws that may restrict its activities. (one word)
An environmental scan will include regulatory forces impacting a business by way of state and federal laws that may restrict its activities.
What is the purpose of an environmental scan?
Environmental scanning is a procedure that methodically examines and analyzes pertinent data to find external opportunities and risks that may have an impact on decisions in the future. It should be utilized as a step in the strategic planning process and is closely tied to a SWOT analysis.An environmental scan is the process of identifying and keeping track of external and internal variables that could have an impact on an organization's long-term viability. In essence, you are trying to create the "grand picture" during this step.External and internal variables both contribute to the organizational environment. The environment must be surveyed to ascertain developments and projections of aspects that may affect organizational success.An environmental scan will include regulatory forces impacting a business by way of state and federal laws that may restrict its activities.
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a manager who selects appropriate goals for the organization to pursue is said to be , while a manager who minimizes the input resources needed to achieve those goals is said to be .
A manager who selects appropriate goals for the organization to pursue is said to be responsible personnel, while a manager who minimizes the input resources needed to achieve those goals is said to be planning.
What is the significance of a manager?A manager can be referred to or considered as the person who is responsible behind the management of the functions and duties in an organization. He or she acts as an intermediary between the top and lower level management. He is also responsible for implementation of plans for achieving organizational goals.
Therefore, the significance regarding a manager has been aforementioned.
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A recent survey by the american automobile association showed that a family of two adults and two children on vacation in the united states will pay an average of $247 per day for food and lodging with a standard deviation of $60 per day. if the data are normally distributed, find the percentage of these families who spent: a. less than $167 per day. b. less than $367 per day. c. more than $247 per day. d. more than $350 per day. e. less than $67 per day. f. between $200 and $300 per day. g. between $360 and $400 per day. h. more than the median. i. less than the mean.
The daily expense for food and lodging will be 337.
Then the daily expense for food and lodging will be
z = (x - μ) / σ
1.5 = (x - 247) / 60
90 = x - 247
x = 247 + 90
x = 337
The daily expense for food and lodging will be 337.
What is z-score?The Z-score provides information on how far a given value deviates from the standard deviation. The Z-score, also known as the standard score, indicates how many standard deviations above or below the mean a specific data point falls. The level of variability within a particular data collection is effectively reflected in the standard deviation.
Z-scores are significant because they provide a means of comparing two scores that do not belong to the same normal distribution. The likelihood that a z-score will occur within a normal distribution can also be determined using them. If a z-score is negative, it indicates that the raw data is smaller than the mean.
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If+sales+are+$814,000,+variable+costs+are+65%+of+sales,+and+operating+income+is+$277,000,+what+is+the+contribution+margin+ratio?
35 % is the contribution margin ratio.
Operating income = $ 271,000
Sales = $ 814,000
Variable costs = 65 % of sales
= 814,000 x 65 %
= $ 529,100
Contribution margin = Sales - Variable costs
= 814,000 - 529,100
= $ 284,900
Contribution margin ratio = Contribution margin / Sales
284,900 / 814,000 =
= 35 %.
The contribution margin ratio (CM ratio) of an enterprise is identical to its sales much less all variable costs, divided with the aid of using its sales. It represents the marginal advantage of manufacturing one extra unit.
The contribution margin ratio is the distinction among a company's income and variable costs, expressed as a percentage. This ratio indicates the quantity of cash to be had to cowl constant costs.
The nearer a contribution margin percent, or ratio, is to 100%, the better. The better the ratio, the extra cash is to be had to cowl the enterprise's overhead expenses, or constant costs. However, it is much more likely that the contribution margin ratio is nicely underneath 100%, and in all likelihood underneath 50%.
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Disclaimer: The question is incomplete. Please read below to find the missing content.
If sales are $814,000, variable costs are 55% of sales, and operating income is $277,000, what is the contribution margin ratio?
recall chapter 1's opening story about the british sea captains and the convicted felons. instead of paying the sea captains for each prisoner placed on board the ships in great britain, an economist suggested:'
Paying for each prisoner who walked off the ship in Australia.
What is prisoner ?An Australian television soap opera by the name of Prisoner, which aired on Network Ten (formerly The 0-10 Network) from February 1979 to December 1986, ran for eight seasons and 692 episodes. Prisoner is known in the UK and the US as Prisoner: Cell Block H. If you think prison is horrible for a man, consider what it would be like for a woman, read the tagline of this groundbreaking television series.
Reg Watson came up with the idea for the Grundy Organization-produced show, which was shot both on location and in the former Network Ten Melbourne Studios in Nunawading.
The series developed a cult following across the world and was one of the biggest media exports, performing notably well in the United States and Canada.
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in a recent company meeting on diversity in the workplace, the hr representative starts a discussion on how to be more sensitive toward the diverse backgrounds of the company’s employees. after the informative discussion, you want to know from the hr representative’s perspective why your company values diversity in its work environment.
Team members with different backgrounds come up with more effective problem-solving techniques, providing your company with a competitive advantage over other companies.
What are competitive advantages in business?In order to provide goods or services better or more affordably than its competitors, a corporation must have a competitive advantage. These elements enable the productive unit to produce more sales or higher margins in comparison to its competitors in the market.
Cost structure, branding, the caliber of product offers, the distribution system, intellectual property, and customer service are just a few of the aspects that are credited with giving a company a competitive edge.
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Samantha wants to become an electrician but she has not been able to find work in an apprenticeship. What other alternative might she consider to learn this occupation?
The other option she can explore is attending a technical school to master this profession.
What is an apprentice program?A new generation of practitioners of a trade or profession can be trained through an apprenticeship program, which combines classroom instruction with on-the-job training. Apprenticeships can also help professionals get a license to work in a regulated field.
Why is apprenticeship so crucial?Apprenticeships, which combine classroom instruction with on-the-job training over a number of years, can help students break into the workforce while simultaneously expanding access to higher education. They also assist in providing the technical, problem-solving, and practical skills that companies demand from their employees.
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Why is having a fully funded emergency fund so important when it comes to your financial well-being?.
In the case of an unforeseen financial setback, your emergency fund will protect you and save you from getting into debt.
You are protected by your emergency fund in the event of an unforeseen financial setback, which can help you avoid getting into debt. If you lose your job, are unable to work due to illness, or need to pay for a costly automobile or house repair, it also gives you peace of mind.
You should strengthen your emergency fund for a variety of reasons. Having a sizable emergency fund is crucial if you just have one source of income. When the main breadwinner becomes ill or loses their job unexpectedly, that can help you get by.
A year's worth of spending in your emergency fund is recommended for singles and families with only one income.
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Which core process of business involves analyzing and understanding how success will be accomplished?
Strategy is the core process of business that involves analyzing and understanding how success will be accomplished.
This is further explained below.
What is a Business Strategy?Generally, To put it another way, a business strategy is a well-defined collection of plans, activities, and objectives that describes how a company intends to compete in a certain market or markets with a product or number of goods or services. In other words, a business strategy is a collection of plans, activities, and objectives.
In conclusion, The most important part of running a company is developing a strategy, which entails doing research and gaining knowledge of how to achieve success.
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The types of accounts which affect retained earnings are? assets. dividends. revenues. expenses. liabilities.
The types of accounts that affect retained earnings are Dividends, Revenues, and Expenses
Sales represent the income generated by a business operation, while profit represents the net profit after deducting costs from the results. Earnings can take many forms, including B. Sales, Commission Income, and Property Income.
Revenue is the money a business makes from selling its products or services. Cash flow is the net amount of cash flowing in and out of a company. Revenue is a measure of a company's sales and marketing effectiveness, while cash flow is a more liquidity measure. Capital investments are typically his one-time large purchases of fixed assets that are used to generate income over the long term. Income costs are the ongoing operating costs, the short-term costs of running the day-to-day operations of a business.
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The interaction of buyers and sellers in a market is fundamental for the determination of?
Prices are driven by both the buyer's demand for the good or service and the producer's willingness to supply the good or service.
What is Prices ?The amount of money that one party pays another in exchange for products or services (which is typically not negative) is called the price. The cost of production can go by several names in particular circumstances. The cost of the item will probably be referred to as its "price" if it is a "good" in the context of a commercial exchange. Other names for this product's name will be viable if the thing is a "service," though.
One scenario is depicted in the graph at the bottom. Production expenses, the amount of the desired thing that is available, and consumer demand all have an impact on a good's price. A monopolist might set the price or the market might impose it on the company.
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What is the format of planning? Explain
. Why is the format of planning necessary?
Answer: The format provides you with a framework for presenting your thoughts, ideas and strategies in a logical, consistent and coherent manner. In other words the business plan format helps you to clarify your own ideas and present them clearly to others.
Explanation: