A restaurant has been operating in the same location for decades. However, a
new restaurant opens across the street and sells very similar food. Both
restaurants try to win over customers by lowering prices and creating new,
innovative dishes. Which element of the free enterprise system does this
situation best reflect?
A. Competition
B. Limited role of the government
C. Individual freedom for producers
D. Profit motive

Answers

Answer 1

Competition

Is the correct answer as shown in the image below.

A Restaurant Has Been Operating In The Same Location For Decades. However, Anew Restaurant Opens Across
Answer 2

The element of the free enterprise system reflected here is competition. Therefore, the correct answer is option is A.

What is competition?

Competition refers to a situation in which individuals or organizations strive to gain an advantage over others. In a market economy, competition is the driving force behind innovation and economic growth. It is an essential element of the free enterprise system as it allows producers to improve their products and services while keeping prices reasonable.

The two restaurant lowered prices and created new and innovative dishes. They did so to get ahead of their competition.

Thus, the element of the free enterprise system reflected here is competition. Therefore, the correct answer is option is A.

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Related Questions

A work arrangement whereby employees are able to remain at home and perform their work using computers that connect them with their offices is referred to as

Answers

Answer:

Telecommuting

Explanation:

Telecommuting is when employees work outside of their organization. In this type of work arrangement, employees work remotely and are connected to their organization platform through technology applications such as zoom, slack etc.

Although, workers may visit their workplace occasionally for meetings that requires physical presence , their main duties are carried out away from their workplace.

Recently, the research and development departments of major pharmaceutical organisations have been experimenting with new injections that provide the boost in iron that anemic children need to reverse their condition. These companies have expressed confidence that children who are suffeing from anemia will be cured relatively simply through the use of such biochemical supplements. In concluding that the biochemical remedy being developed will have its desired effect, the pharmacuetical companies assume that :

Answers

Available Options Are:

A. Major pharmaceutical companies have the primary responsibility to cure childhood anemia

B. A low iron level in the body is the major factor influencing the incidence of anemia in children

C. A diet rich in iron cannot improve the conditions of children suffering from anemia to the point that biochemical supplements would become unnecessary

D. Children afflicted with anemia will find out about and submit to injections that can reverse their conditions

E. The use of biochemical supplements is the safest way to cure anemia in children

Answer:

Option B. A low iron level in the body is the major factor influencing the incidence of anemia in children

Explanation:

Option A is incorrect because its not the primary responsibility of a single organization.

Option B is correct because the pharmaceutical company believes that the low iron level is the major cause of anemia in childrens and that the bichemical supplements that are rich in iron will help reverse their condition. Hence it is the right option.

Option C is also incorrect because it is totally opposite to what pharmaceutical company believes. The statement says that diet rich in iron will not help childrens to reverse their condition however the pharmaceutical company company believes.

Option D is incorrect because children are not much smart that they will find out that they are suffering from anemia and that they must use these o not find and take the supplements then they must use biochemical supplements to get cured. Furthermore, the pharmaceutical company doesn't believe in such things.

Option E is not assumed by the pharmaceutical company and is also not given in the question that biochemical supplements is the only one solution which would help in curing anemia in the children.

Suppose the U.S. Treasury announces plans to issue $50 billion of new bonds. Assuming the announcement was not expected, what effect, other things held constant, would that have on bond prices and interest rates?

Answers

Answer:

Prices would decline and interest rates would rise

Explanation:

This is because the market will be flooded with additional 50 billion dollars of bond increasing the supply causing the price to fall. Interest rate are inversely proportional to prices thus interest rate will rise.

Which managerial function involves designing jobs, grouping jobs into units, and establishing patterns of authority between jobs and units

Answers

Answer:

Organizing

Explanation:

After planning, organizing is the function where a manager assigns all the resources and work to the employees on the basis of their specialties. For instance, an employee who is great at marketing is handed the sales promotion. This is basically choosing the right person for a particular work to achieve those organizational goals. Slowly, it turns into an organizational structure as the assigning of work and resources progresses.

Which of the following statements is CORRECT? Group of answer choices Hedge funds are not as highly regulated as most other types of financial institutions. The justification for this light regulation is that only "sophisticated" investors (i.e., those with high net worths and high incomes) are permitted to invest in these funds, and these investors supposedly can do any necessary "due diligence" on their own rather than have it done by the SEC or some other regulator. Hedge funds have more in common with commercial banks than with any other type of financial institution. The most important difference between spot markets versus futures markets is the maturity of the instruments that are traded. Spot market transactions involve securities that have maturities of less than one year whereas futures markets transactions involve securities with maturities greater than one year. Capital market transactions involve only preferred stock or common stock. If General Electric were to issue new stock this year, this would be considered a secondary market transaction since the company already has stock outstanding.

Answers

Answer: Hedge funds are not as highly regulated as most other types of financial institutions. The justification for this light regulation is that only "sophisticated" investors (i.e., those with high net worths and high incomes) are permitted to invest in these funds, and these investors supposedly can do any necessary "due diligence" on their own rather than have it done by the SEC or some other regulator.

Explanation:

Hedge fund is simply an investment company which invests the money of its clients in alternative investments so that it'll be able to provide hedge against the changes that may later occur in the market or in order to beat the market.

Hedge funds are not as highly regulated as most other types of financial institutions. The justification for this light regulation is that only "sophisticated" investors (i.e., those with high net worths and high incomes) are permitted to invest in these funds, and these investors supposedly can do any necessary "due diligence" on their own rather than have it done by the SEC or some other regulator.

When the employing broker of a corporate brokerage is suddenly unable to continue in that position, to whom may the commission issue a temporary "hardship" license?

Answers

The options available are:

A. person with sufficient ownership interest in the corporation

B. Colorado licensee approved by the corporate board of directors

C. member of the board of directors

D. officer or director with a broker's license from another state

Answer:

Colorado licensee approved by the corporate board of directors

Explanation:

This is because, all companies are expected to have an employing broker at all times. But in a situation whereby none exist at a given period, then the real estate commission can issue a "hardship" license to someone else to act as the interim employing broker while the company finalizes on a permanent employing broker.

However, the rule for the "hardship" employing broker is that he/she must have an active Colorado license.

Hence, given the options available, the right answer is "Colorado licensee approved by the corporate board of directors"

A method of estimating land value in which the net operating income attributable to the land is isolated and capitalized to produce an indication of the land's contribution to the total property is the definition of the ____________ Method of site valuation.

Answers

Answer: Land Residual Method

Explanation:

Land residual method of site evaluation is the method of estimating land value in which the net operating income attributable to the land is isolated and capitalized to produce an indication of the land's contribution to the total property.

This particular method uses income as being the basis for value and is used in appraising income producing properties.

Red Carpet Industries had retained earnings of $537,500 and $135,000 of net income. On its previous balance sheet, at 12/31/18, the company had reported $445,000 of retained earnings. No shares were purchased during 2019. How much in dividends did the firm pay during 2019?

Answers

Answer:

$42,500

Explanation:

Red carpet had retained earnings of $537,500 and a net income of $135,000

On the previous balance sheet the retained earnings that was reported was $445,000

The first step is to calculate the change in retained earnings

= $537,500-$445,000

= $92,500

Therefore the amount of dividend paid by the firm can be calculated as follows

=Net income-change in retained earnings

= $135,000-$92,500

= $42,500

Hence the dividend paid by the firm during 2019 is $42,500

What type of trend is caused by changes in characteristics of a population

Answers

Changes in key characteristics like sex, age, or status can change the Demographic Trend of an area

Answer:

the answer is D

A demographic trend

According to ________, how much people are willing to contribute to an organization depends on their assessment of the fairness of the rewards they will receive in exchange.

Answers

Answer:

The equity theory

Explanation:

Equity theory which was bring to light in the 1960s, focus on the fair balance between benefit people derive or employee output and their contribution or employee input accordingly. This theory is usually referred to as Adams' Equity Theory. It calls for fair reward in exchange to an input.

Therefore, the right statement is "According to The equity theory, how much people are willing to contribute to an organization depends on their assessment of the fairness of the rewards they will receive in exchange".

The new chief information officer of a national fast food chain is using mathematical tools to aid in product ordering and scheduling decisions. The CIO is using

Answers

Answer:

"Management Science" would be the correct solution.

Explanation:

Management research or science seems to be the field of the scientific community to the research paper of large organizations, as well as excursions operations. Advanced manufacturing development and software current study are two professions been between management sciences. It deals with either the development of new and innovative and improved organizational excellence modeling techniques.

Tuition of ​$ will be due when the spring term begins in months. What amount should a student deposit​ today, at ​%, to have enough to pay the​ tuition? The student should deposit ​$ 1200.

Answers

Answer:

some numbers are missing, so I looked for similar questions:

"Tuition of $1044 will be due when the spring term begins in 7 months. What amount should a student deposit today, at 7.62% to have enough to pay the tuition?"

we can use the present value formula to solve this:

present value = future value / (1 + r)ⁿ

future value = $1,044n = 7r = 7.62% / 12 = 0.635%

present value = $1,044 / (1 + 0.00635)⁷ = $1,044 / 1.045305791 = $998.75

if the numbers are not the same, just adjust the formula inputting the correct numbers, but the procedure should be the same.

What is an advantage of radio advertising? It offers an excellent combination of reach and frequency. It is free from the problem of advertising clutter. It provides scope for unlimited creativity. It is a cost-effective method to reach all markets. It benefits from being long-lived and widely remembered.

Answers

Answer:

It offers an excellent combination of reach and frequency

Explanation:

The question basically seeks to extract the advantage of radio advertising in contemporary time. It must be noted that there are varying forms of advertisements, with one edging the other by one feature or the other.

The feature that ultimately stands radio advertising is the ubiquitous nature of its distribution. Simply put, it offers an excellent combination of reach and frequency. The implication of this is that the messages and information being passed out from this medium commands a far reach, attention and feedback from the larger audience.

While other listed options could be relevant, it must be stated that option A is the feature that categorically set radio advertisements apart from others.

Charismatic leaders ________

a. avoid personal risk
b. engage in traditional behaviors that follow norms
c. propose a vision of the future that is better than the status quo
d. focus on their own responsibilities largely ignoring the needs and feelings of employees
e. ensure their own position as leader even if it means sacrificing others

Answers

Answer:

C

Explanation:

one it makes sense & it fits in the context of the sentence

Charismatic leaders pose a vision of the future that is better than the status Thus option(C) is correct.

Who is a leader?

The term leader is someone who inspires passion and motivation in followers. A leader is someone with a vision and the path to realizing as we see there are different types of leaders who are there as we see in the organization the team leaders are there in it as we see in the politics they are different from it. There are different kinds of leaders who are being there. And they can easily lead the group as well.

The German sociologist Max Weber invented the idea of charismatic authority. It involves a kind of organization or leadership where the leader's charisma confers authority.

Therefore, Thus option(C) is correct.

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A 30-year Treasury bond is issued with face value of $1,000, paying interest of $60 per year. If market yields increase shortly after the T-bond is issued, what is the bond’s coupon rate?

Answers

Answer:

6%

Explanation:

The face value of the bond is $1,000 and the coupon of the bond is $60.

The coupon rate of the bond = $60 / $1,000 = 0.06 = 6%

Hence, the coupon rate is 6%

Which factor is critical to the successful implementation of the IS?

Answers

Answer: E Visibility of products in real time

Explanation:

Xavier produces and sells tomatoes in a purely competitive market. This implies that Xavier's marginal revenue from an extra unit of tomatoes is always equal to the:

Answers

Answer: unit price

Explanation:

A purely competitive market is a market whereby there are many firms that produce goods that looks the same and the prices for goods are based on demand of consumers. There's also free entry and exit and no supplier has the right to influence price.

Since Xavier produces and sells tomatoes in a purely competitive market. This implies that Xavier's marginal revenue from an extra unit of tomatoes is always equal to the unit price.

Many customers shop at Organic Foods because of the employees' extensive product knowledge. In a SWOT analysis, the employees' high levels of product knowledge are an example of the company's

Answers

Answer:

The answer is Strength

Explanation:

SWOT analysis stands for:

S - Strength

W - Weakness

O - Opportunity

T - Threat.

In the question, strength captures the scenario. Strength is a resource that can be used as a competitive advantage to attract customers. Customers see this strength and they are attracted by it.

Other examples can be, respect, creativity etc.

Jake's parents were able to save $60,000 for his college tuition by the time jake graduated from high school. jake is trying to determine if he needs to work part time to make up any differences in his tuition over the next four years. he is currently estimating that tuition will be $18,000 per year, and he can earn eight percent on the balances remaining at the end of each year. how much will jake be able to withdraw each year for his college tuition if he withdraws an equal amount each year for four years? (use exhibit 1-d and round your answer to the nearest dollar amount.)

Answers

Answer:

$16,773.36

Explanation:

this is an annuity due since Jake will need to withdraw money at the beginning of the year, not the end of the year:

principal = $60,000

n = 4 distributions

interest rate = 8%

annual withdrawal = principal / annuity due factor (PV, 8%, 4 periods)

annual withdrawal = $60,000 / 3.5771 = $16,773.36

ABC Company owns 30% of the outstanding shares of Teal Company. At the beginning of the current year, the carrying value of Teal's stock on ABC's balance sheet was $60,000. During the period, Teal paid dividends of $10,000 and reported a net income of $40,000. What is the carrying value of Teal's stock on ABC's balance sheet at the end of the year?

Answers

Answer:

$69,000

Explanation:

Percentage of shares owned by ABC in Teal's company = 30%

This is an example of equity method investment , and a portion of the attributable income at the end of the year is earned and added to the initial stock.

Attributable income is the remaining income after dividends have been settled.

Workings

The opening carrying value of the shares on ABC balance sheet = 60,000

Profit made at the end of the period = 40,000

Dividends paid = 10,000

Attributable income to share holders = 40000-10000 = 30,000

ABC portion of attributable profit = 30000*30% = 9,000

Carrying value at the end of the year = opening carrying value + portion of the attributable profit

=60000+9000=69000

Panera is introducing some of its products into supermarkets, vending machines, college campuses, and other locations to increase its product availability and convenience. One reason Panera is doing so is to

Answers

Answer:

Increase customer value.

Explanation:

In this scenario, Panera is introducing some of its products into supermarkets, vending machines, college campuses, and other locations to increase its product availability and convenience. One reason Panera is doing so is to increase customer value.

Customer value can be defined as a measure of a product's cost, convenience and benefits derived by customers when compared with its best alternatives.

Hence, a business that has a good customer value offers a high level of satisfaction and benefits to the consumers of its products (goods) and services.

Bill wants to give Maria a $500,000 gift in seven years. If money is worth 6% compounded semiannually, what is Maria's gift worth today

Answers

Answer:

PV= $332,528.56

Explanation:

Giving the following information:

Future value= $500,000

Number of periods= 7 years

Discount rate= 6% compounded annually

To calculate the present value, we need to use the following formula:

PV= FV/(1+i)^n

PV=  500,000 / (1.06^7)

PV= $332,528.56

deals with the challenges that a company
faces in the ever-changing business
environment

Answers

Answer:

Strategy.

Explanation:

Strategy can be defined as a coordinated deployment of a firm’s resources to achieve competitive advantage in the industry where it operates. Basically, it is a long-term plan of action that is focused on using a firm's available resources to achieve set objectives and goals such as includes dominating the market, expanding the business, meeting customer's demands etc.

Generally, the top executive management is saddled with the responsibility of ensuring that their business strategy is in tandem with the aim, objectives, vision and mission statement. A good business strategy is a continuous process that should function as a roadmap or guide to achieve competitive advantage, sustained profitability, growth and development of an organization.

Hence, strategy deals with the challenges that a company faces in the ever-changing business environment.

Additionally, the strategy formulated by an organization can be classified into the following categories; growth strategy, marketing strategy, product strategy etc.

Alex goes to the store to buy snacks. While he's there, he remembers he also has run out of deodorant. When Alex gets to the cashier, he finds that he's forgotten his wallet and has only $5 in cash to spend. Alex has to choose which items to buy. Which of the following key ideas of economics does this illustrate?

a. marginal analysis
b. market failure
c. tradeoffs
d. incentives

Answers

Answer:

C) Tradeoffs

Explanation:

A trade-off (or tradeoff) is a decision that has to be taken due to situation that involves diminishing or losing one quality, quantity or property of a set or design in return for gains in other aspects. In simple terms, a tradeoff is a situation where one thing increases while another must decrease.

Tradeoffs: Alex has found himself with only $5 to spend and must decide among the items. This illustrates the idea that scarcity forces tradeoffs.

cpnsider capm the risk free rate is ^5 and the expected return on the market is 18% what is the expected return on a stock with a beta of 1.3

Answers

Answer:

Expected return = 21.9 %

Explanation:

The capital asset pricing model is a risk-based model. Here, the return on equity is dependent on the level of reaction of the the equity to changes in the return on a market portfolio. These changes are captured as systematic risk. The magnitude by which a stock is affected by systematic risk is measured by beta.  

Under CAPM, Ke= Rf + β(Rm-Rf)

Rf-risk-free rate (long-term i.e 10 year treasury bill rate), β= Beta, Rm= Return on market., Ke- Return on equity (cost of equity)  

This model can be used to work out the cost of equity as follows:  

Ke= Rf + β (Rm-Rf)  

Rf- 5%, β= 1.3, Rm- 18, E(r)- ?  

Ke =  5% + 1.3×(18-5)%=21.9 %  

Ke = 21.9 %

Expected return = 21.9 %

If a seller collected rent of $900 from the buyer, payable in advance, on August 1, which statement is TRUE at the closing on August 15, if the closing date is an expense to the seller? (Use a 30-day month)

Answers

Answer:

The seller will owes the buyer the amount of $450

Explanation:

Based on the information given, in a situation where a seller collected the amount of $900 as rent from the buyer which will be payable in advance which means that in a situation where the closing date is an expense to the seller the seller will owes the buyer the amount of $450 calculated as :

Collected amount $900/30 day month

=$30

And since we were told that the closing date is August 15 (15 days) which means that we have to multiply the amount of $30 by the numbers of days which is 15 days in order for us to know how much the seller will owes the buyer calculated as

$30x15 days

=$450

Therefore the seller will owes the buyer the amount of $450

A salesperson asks, "What am I legally required to do with this?" when deciding whether to return competitive intelligence that was gathered by stealing company data. At which level of moral development is this salesperson operating?

Answers

Answer:

C. Conventional.

Explanation:

In this specific scenario, the salesperson would be operating at a conventional level of moral development. This is the second level and is when the individual develops personal moral codes by internalizing the rules of adult role models. In this case, the individual would use their moral code in order to decide what is the correct/moral course of action to take with the stolen data.

________ management is based on the belief that productivity is maximized when organizations are rationalized with precise sets of instructions based on time-and-motion studies.

Answers

Answer:

The correct answer is: Scientific Management.

Explanation:

To begin with, the name of "Scientific Management" refes to the theory created by Frederick Taylor and therefore that it is also commonly known as "Talyrosim" after its creator. This theory focus on the job of introducing the science to the management of a company and more specifically to the labor processes and its productivity. That is why that its main objective is to look for the way to increase the labor productivity of the organization and all of its workers due to the fact that it was first established in times of industrialism. The most important contribution he made was the use of measuring the time of the workers in order to understand how they work and how can they be better at it.

All of the following are types of operating costs except
employee wages
equity capital
taxes
waste

Answers

Equity capital or waste it depends on which situation.

Answer:

Operating costs are the costs associated with running a business on a day-to-day basis. This can include overhead, employee wages, taxes, waste, and more., so your answer would have been (equity capital)

Explanation:

you probably would have known if you looked through "4.01 Finances in the Advertising, Marketing, and Promotions Industry Introduction

" unit lesson, but you're welcome to others that may have needed help with this <3

Your customer, age 46, has been investing money in a variable annuity for several years. He plans to stop the deposits to meet current financial obligations, but he does not intend to withdraw any of the funds already invested until retirement, which is still several years away. Until the withdrawals are made, the client will be holding

Answers

Answer:

accumulation units

Explanation:

Even though this customer will stop contributing money to his investment fund due to certain current financial obligations, he is still in the accumulation stage of the annuity. While a customer is in the accumulation stage, he/she is said to be holding accumulation units. Only after the client decides to start withdrawing funds, will the account be annuitized and the funds converted into annuity units.

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