The cycle of business data includes the phases of data gathering, data editing, correction, processing, storage, and documentation generation.
What is data editing?Data editing is the use of checks to find missing, inconsistent, or invalid information or to identify potentially incorrect data records. No matter what kind of data you are dealing with, different stages or phases of data gathering and processing include different modifications.Data cleaning is a crucial component of improving data quality for statistical analysis. Data editing is the process of ensuring and verifying the accuracy of data by cleaning it up. Currently, data editing is a little-discussed yet incredibly crucial step in the data collection process. Data collection, editing, correction, processing, storage, and documentation creation are all steps in the cycle of business data.Therefore, the cycle of business data includes the phases of data gathering, data editing, correction, processing, storage, and documentation generation.
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Correct question:
Business data goes through a cycle that includes data collection, data __________, data correction, data processing, data storage, and documentation production.
the official unemployment rate is not an accurate indicator of actual unemployment in the economy because
The official unemployment rate is not an accurate indicator to demonstrate the actual unemployment in the economy because it failed to include people who have given up looking for work.
Unemployment is a situation where a person is actively looking for employment but unable to find one. Unemployment could be divided into 4 types:
Frictional unemploymentCyclical unemploymentStructural unemploymentInstitutional unemploymentFrictional unemployment represents people who voluntarily leaves their jobs and looking for another job. These people are currently jobless but in the process of job-seeking. Frictional unemployment is a natural result of recruitment process.
Cyclical unemployment represents unemployed workers resulted from the economic upturns and downturns. These people are affected by the economic fluctuation such as changes in oil prices or ressesion. Cyclical unemployment tends to rises during ressesion periods and declines when the economy grows.
Structural unemployment occurs when a technological change in the structure of the economy decrease the amount of labors needed. Technological changes lead to displacement of the current workers with techology and make those workers become unemployed because their services could be replaced by technology.
Institutional unemployment happens because of long-term or permanent institutional factors and incentives in the economy, such as government policies about minimum wage floors, labor market phenomena, discrimination hiring, etc.
However, besides those 4 types of unemployment, there is another type of unemployment in the economy. This unemployment represents the people who are already given up to looking for jobs. This type of unemployment is called discouraged workers.
These discourage workers are usually unable to be included in the official unemployment rate. Hence, the real unemployment rate is a better option to give more accurate picture of an actual unemployment in the economy because it includes discourage workers into its calculation.
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Which one of the five generic competitive strategies discussedin Chapter 5 most closely approximates the competitive approachthat Under Armour is employing?Select the best response from the optionsprovided.Multiple ChoiceA focused differentiation strategyB focused low-cost strategyC low-cost provider strategyD broad differentiation strategyE best-cost provider strategy
To compete in the market, Lululemon employs a focus-difference strategy. A generic competitive strategy, this one.
Which five competing tactics fall under the general category?There are five tactics that companies can use to run competitively and dominate their markets: Low-cost provider strategy is followed by best-cost provider strategy, differentiation strategy is followed by focus low-cost provider strategy, and focus differentiation strategy is followed by low-cost provider strategy.To compete in the market, Lululemon employs a focus-difference strategy. A generic competitive strategy, this one.A targeted low cost strategy, rather than any of the other five conventional competitive strategies, more closely resembles Tesla's method for competing.To learn more about Focus-difference strategy refer to:
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which of the following statements is(are) correct regarding rollovers from qualified plans or iras? distributions from qualified plans and iras require 20% mandatory withholding for federal income taxes if a trustee-to-trustee direct transfer is not used to execute a rollover. a taxpayer is limited to one ira rollover in a one-year period (on a 365-day basis) unless the rollover is a trustee-to-trustee direct transfer. a distribution from a qualified plan may not be rolled over to a governmental section 457 plan. if a qualified plan participant has an outstanding loan from a qualified plan upon separation from service, the participant may roll over the loan into a rollover ira as long as loan repayments continue at least quarterly.
Statement B is correct about rollovers from qualified plans or IRAs.
B). A taxpayer is limited to one IRA rollover in a one-year period (on a 365-day basis) unless the rollover is a trustee-to-trustee direct transfer.
What is an IRA?
Individual retirement accounts (IRAs) are long-term savings accounts that people with earned income can use to invest for the future and benefit from specific tax benefits. The IRA is primarily made for independent contractors who lack access to employee retirement accounts like 401(k), which are solely offered by companies.
A bank, an investment firm, an internet brokerage, or a personal broker are all options for opening an IRA. Deductions for contributions to regular IRAs and Roth IRAs are subject to yearly income restrictions.
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crane corporation issues 710, 8-year, 6%, $1000 bonds dated january 1, 2025 at 94. the journal entry to record the issuance will include a
The journal entry would be - Debit : cash :710000 and Credit: Bonds payable : 710000.
What are bond payables?
A sum that the issuer owes bondholders and represents a long-term debt. Bonds are a type of debt that must be repaid.What current liabilities are bonds payable?
Bonds that will mature within a year of the date of the balance sheet will only be represented as a current liability if the bond issuer will need to use a current asset or establish a current liability in order to pay the bondholders when the bonds mature.Is Bond payments a credit or a debit?
All premiums and discounts should have been amortised by the time the bonds are redeemed, so the entry is simply a debit to the bonds payable account and a credit to the cash account.Hence, crane corporation issues 710, 8-year, 6%, $1000 bonds dated January 1, 2025 at 94. the journal entry to record the issuance will be - Debit : Cash :710000 and Credit: Bonds payable : 710000.
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donations made to a nonprofit organization are typically tax-deductible to individuals and businesses that make them, and the nonprofit itself pays no tax on the received donations or on any other money earned through fundraising activities.
A nonprofit organization's enterprise is a collection prepared for purposes aside from generating earnings and in which no part of the business enterprise's profits is shipped to its participants, directors, or officials.
A nonprofit corporation is one that qualifies for tax-exempt fame by the IRS due to the fact its mission and purpose are to in addition a social cause and offer a public benefit.
Nonprofit organizations include hospitals, universities, country-wide charities, and foundations. Apr 20, 2021Non-earnings charities get revenue from donations, presents, and memberships. they'll also get revenue from selling branded merchandise. A non-earnings business enterprise's costs may additionally include lease or mortgage payments.
Nonprofit personnel is paid in an equal manner that any employee is paid. They obtain a salary this is determined by means of their position and may receive bonuses based on their overall performance or any time beyond regulation they spend working beyond what's required of them.
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A summary of all the financial data in the account ledgers that ensures the figures are correct and balanced is called.
A summary of all the financial data in the account ledgers that ensures the figures are correct and balanced is called Trial balance.
The trial balance is the report of accounting in which ending balances of the different general ledgers of the company are available.
In the trial balance utility expenses during a period include the payments of different bills amounting. If the total debits equal the total credit, the trial balance is considered to the balanced and there should be no mathematical errors in the ledgers.
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_____________ is a system of computing the cost of production or of running a business by allocating expenditures to various stages of production or to different operations of a firm.
costing
Costing is a system of computing the cost of production or of running a business by allocating expenditures to various stages of production or to different operations of a firm.
Costing is any system for allocating costs to a business component. Customers, distribution channels, employees, geographic regions, products, product lines, processes, expenditures, and entire companies are typically costed firm. Costing is the process by which an entrepreneur determines or calculates the cost of producing or selling each individual product (goods or service). WHY IS COST BEFORE PRICING IMPORTANT? To be able to set a fair and competitive price for the product.
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why key economic problem did marx identify, where did it come from, and how did marx believe that it could be solved? g
Karl Marx argued that the free market's chaos and excess labor are the two main aspects of capitalism that lead to exploitation.
Karl Marx, a radical philosopher, and economist from Germany are credited with developing Marxism. His friend and partner Friedrich Engels also made significant contributions.
Karl Marx's core beliefs criticized capitalism and its shortcomings. Marx believed that capitalism will eventually self-destruct. A classless society would be established as a result of the alienated, downtrodden workers' eventual defeat of the owners and takeover of the means of production.
Marx believed that capitalism will eventually self-destruct. A classless society would be established as a result of the alienated, downtrodden workers overthrowing the owners and seizing control of the means of production themselves.
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in 2011, faber purchased a classic car to restore for $12,000. however, faber is too busy to work on the car and gives it to an offspring, reign, in 2022. at this time, the fair market value of the car has declined to $10,000. faber paid no gift tax on the transaction. reign personally completes some of the restoration, with out-of-pocket costs of $5,000. reign later sells the car for $30,000. reign's recognized gain on the sale of the car is $13,000.
Reign is able to recognize $13,000 gain on sales of the car purchased from Faber. Faber purchased the classic car to restore for $12,000 in 2011 but failed to restore it and gives the car to Reign, an offspring. The fair market value of the car when Reign received the car is $10,000. Reign completes some restoration with out-of-pocket costs of $5,000.
Gain on sales is the amount of profits made by selling a non-inventory asset for more than its value. Reign will be able to gain some profits it the resell price of the classic car is higher than the total value of the car.
Reign's gain on sale of the classic car is:
Reselling price $30,000
Less: Original car value $12,000
Restoration costs 5,000
Realized gain (or loss) $13,000
Take a closer look on the original car value. We use the original price because the value of the car remains because of Reign's restoration.
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Complete Question:
In 2011, Faber purchased a classic car to restore for $12,000. However, Faber is too busy to work on the car and gives it to an offspring, Reign in 2022. At the time, the fair market value of the car has declined to $10,000. Faber paid no gift tac on the transaction, reign personally completes some of the restoration with out-of-pocket costs of $5,000. Reign later sells the car for $30,000. Reign's recognized gain on the sale of the car is ...
hich of the following best explains why companies are adopting the team selling approach to service large, complex accounts?
A group of salespeople assigned to one account is cost-effective for the corporation best explains why companies are adopting the team selling approach to service large, complex accounts.
A company, abbreviated as co., is a legal entity representing an affiliation of people, whether or not herbal, felony or a mixture of both, with a selected goal. business enterprise members percentage a common motive and unite to achieve particular, declared dreams.
An enterprise is a felony entity fashioned by means of a group of individuals to engage in and perform a business—industrial or industrial—business enterprise. An organization can be prepared in diverse approaches for tax and economic legal responsibility functions depending on the corporate law of its jurisdiction.
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inca industries is considering two new machines. machine a will generate revenues of $160,000, have variable costs of $55,000, and fixed costs of $8,000. machine b will generate revenues of $140,000, have variable costs of $40,000, and fixed costs of $8,000. which machine should be selected and why?
Machine A should be selected because incremental net income will be $5,000 higher.
What is net income?In the world of business, net income is an entity's revenue less costs, depreciation and amortization, interest, and taxes for a certain accounting period.
The amount earned by an individual or business after costs, allowances, and taxes is referred to as net income. Net income in business is the amount that remains after all costs, such as salaries and wages, the cost of goods or raw materials, and taxes, have been paid.
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if input prices rise and as shifts to the left by 2,000 units at each price level, what will be the new equilibrium output level and price?
New equilibrium output level and price is 7000
What is equilibrium?
The state of a system when neither its state of motion nor its internal energy state tend to change over time. Demand and supply were in balance.
What are Equilibrium Output and Equilibrium Price Levels?
In short, it is the interaction of buyers and producers of all products that determines both national income (real GDP) and price levels. In other words, the intersection of Aggregate Demand (AD) and Aggregate Short Term Supply (SRAS) determines the short run equilibrium production and price levels.
How do you discover the equilibrium level of output?
E=C+I+G+NX [Aggregate demand is the sum of consumption, investment, government purchases and net exports. ] E=Y* [At equilibrium, total expenditure equals total income or total production.]
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the walthers company offers 8.1 percent coupon bonds with semiannual payments and a yield to maturity of 7.68 percent. the bonds mature in 6 years.
The market price for the bond of company is 991.47.
What is market price?When comparing the current interest rate to the bond's stated interest rate, the market price of a bond is calculated. Two components make up the bond's market price. The bond's face value's present value makes up the first component. The present value of the bond's interest payments makes up the second component. A $100,000 bond, for instance, has interest paid on it twice a year. 8 percent is the quoted interest rate. The interest rate on the market right now is 10%. Five years pass until the bond expires. For the interest payments, ascertain the annuity factor's present value. Utilize the annuity table's present value. Because of the bond's five-year maturity and semi-annual interest payment schedule,
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study the figure on the budget-making process, and then determine which of the following statements are accurate.
State agencies are involved in the fiscal cycle's last step. The budget is handled concurrently by both houses of the legislature.
Explain what a budget is.A budget is a spending plan that is based on income and expenses. In other words, it's a forecast of your earnings and spending for a given period of time, such as a month or a year.(Or, if you're keeping track of the money coming in and going out of your home as a whole, that's a family budget.)
Why is having a budget crucial?Having a budget promotes financial stability. A budget makes it simpler to pay bills on time, accumulate an emergency fund, and save for significant costs like a vehicle or home by keeping track of spending and sticking to a plan. Overall, creating a budget improves one's short- and long-term financial stability.
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which factor would be classified as a tool of monetary policy used by the federal reserve? i. reserve requirements ii. the discount rate
Reserve requirements would be classified as a tool of monetary policy used by the federal reserve.
Commercial banks are required by the Federal Reserve (Fed) to keep a portion of customer deposits in their possession. Reserves are the sums that the banks hold. The amount of deposits that must be held as reserves is determined by the Fed. This percentage may be changed by the Fed to meet its monetary goals.
Commercial banks maintain a larger amount of deposits that they lend out by lowering the reserve requirements percentage. It implies that banks will extend more loans to clients. The economy gains more money when lending increases. Reducing the reserve requirement expands the nation's money supply.
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Why is it important to check bank statements on a regular basis?.
Answer:
By checking bank statements regularly you are checking what things need to be worked on and what things don't, ex: 1. how much money your putting into a business vs. how much money your making 2. how much money in loans have been taken out 3. what loans need paid 4. how much debt you have etc.
Rodriguez Company completed its income statement and comparative balance sheet for the current year and provided the following information: In addition, Rodriguez bought a small service machine for $5, 300 Required: Present the operating activities section of the statement of cash flows for Rodriguez Company using the indirect method (List loss amount and cash outflows as negative amounts.)
A cash flow statement is a type of financial statement that shows the inflow and outflow of cash for a company or business. It directs the company's managers when, chooses borrowing money.
The cash flow from operating activities component of a company's cash flow statement is the first section. It is used to define the manner in which a corporation uses its capital at any one time and how it obtains its funding from ongoing, typical business operations like sales and manufacturing. Net income, which can be included in the income statement, net income adjustments, and changes in working capital are typically included in the cash flow statement. Net income is frequently the first line item in the operating activities part of the cash flow statement. This indicator of a company's profitability is derived directly from the net profit shown in the business's income statement for the applicable period. The cash flow statement must then compare the net income and net cash flows. To do this, depreciation and amortization are two non-cash expenses that be added back.
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Which of the following statements is CORRECT?a. Cannibalization, as described in the text, is a type of externality that is not against the law, and any harm it causes is done to the firm itself.b. If cannibalization exists, then the cash flows associated with the project must be increased to offset these effects. Otherwise, the calculated NPV will be biased downward.c. If a firm is found guilty of cannibalization in a court of law, then it is judged to have taken unfair advantage of its competitors. Thus, cannibalization is dealt with by society through the antitrust laws.d. If cannibalization is determined to exist, then this means that the calculated NPV if cannibalization is considered will be higher than the NPV if this effect is not recognized.e. If a firm is found guilty of cannibalization in a court of law, then it is judged to have taken unfair advantage of its customers. Thus, cannibalization is dealt with by society through the antitrust laws.
Cannibalization, as described in text, is type of externality that is not against law, and any harm as it causes is done to firm itself is correct.
What is Cannibalization?A decrease in sales volume, sales revenue, or market share of one product when the same business launches a new product is known as cannibalization in marketing strategy. Through lower prices on their online product offers, some businesses in e-commerce purposefully cannibalize their retail sales. The discounted goods may sell to more customers than usual, especially if they were previously tied to retail prices. Consumers are more likely to choose the discounted item than the more expensive alternatives that are available. However, the effect will often fade after the promotion event is over and prices resume their previous levels. Although academics don't typically use the word "cannibalization" to describe such a situation, this momentary shift in consumer behavior can be regarded as cannibalization.
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FILL IN THE BLANK. with respect to employee termination, a(n) ____ suit typically attempts to establish that the termination either violated an implied covenant or violated public policy.
With respect to employee termination, a wrongful discharge suit typically attempts to establish that the termination either violated an implied covenant or violated public policy.
What is Public Policy?To answer or handle pertinent and real-world problems, public policy is an institutionalized proposition or a decided collection of elements like laws, rules, guidelines, and acts. It is motivated by a notion and frequently carried out through programs.
Typically, a government produces and/or enacts them on behalf of the people. Sometimes they are created by nonprofit organizations, or they are created in collaboration with communities or individuals, and they may employ some of the scientific data or prospective experts, scientists, engineers, or stakeholders.
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Your Question was incomplete but most probably your question was.
FILL IN THE BLANK. with respect to employee termination, a(n) ____ suit typically attempts to establish that the termination either violated an implied covenant or violated public policy.
a. discrimination
b. forgery
c. encroachment
d. unethical practice
e. wrongful discharge
on the 2020 green cars federal worksheet, use layout view to delete the text in the left footer section and replace it with:
This federal worksheet is used with the aid of folks to make calculations according to the line instructions contained in the T1 General Income Tax
What is TD1 worksheet?TD1-WS. Worksheet for the. 2022 Personal Tax Credits Return. Fill out this worksheet if you desire to calculate partial claims for the following quantities on your Form TD1, 2022 Personal Tax Credits Return.
How do you calculate primary personal amount 2022?For individuals whose net profits for the yr is less than or equal to the amount at which the 29% tax bracket begins ($150,473 for 2020), the primary private quantity extended to $13,229 for 2020, $13,808 for 2021, $14,398 for 2022, $15,000 for 2023.
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https://brainly.com/question/25286543#SPJ4which of the following gives employees the right to participate in the profits of a company at a specified percentage, even though they are not full shareholders with voting rights?
Capital appreciation rights gives employees the right to participate in the profits of a company at a specified percentage, even though they are not full shareholders with voting rights.
Any individual, business, or organization that holds at least one share of a company's stock or unit in a mutual fund is referred to as a shareholder. With specific rights and obligations, shareholders effectively control the business. They are able to profit from a company's success thanks to this sort of ownership.
Being a shareholder essentially implies you have equity in a company. The power to vote and attend annual shareholders meetings are among the privileges that come with owning corporation stock.
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You invest in the stock of Valleyview Corp. and purchase a put on Valleyview Corp. This strategy is called ____.
protective put
You buy a put on Valleyview Corp. and invest in the company's equity. The protective put is the name of this tactic.
By purchasing (or already holding) shares as well as put options, one might establish a defensive put position. In the above example, 100 shares are bought (or held) together with one put. The bought put offers protection below the strike price in the event that the stock price drops.
Investors use a protective put, a risk-management technique based on options contracts, to protect themselves from losing money on a stock or other asset. Protective puts offer downside protection from asset price falls in exchange for the cost of the premium, acting as an insurance policy.
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understanding bond pricing suppose your friend tells you that she recently purchased a 15-year $3,000.00 bond with a 5% coupon. a month later, she saw it quoted at 109:4, but she does not know what this means. you can tell by the way the bond is priced that she has a bond; otherwise it would have been priced . you explain that the market price of her bond is now , meaning it is now a bond. based on the market price of the bond you calculated, you can tell that market interest rates have gone since the bond was issued. the current yield of the bond is now .
Your friend has a 15-year $3,000.00 bond with a 5% coupon.
What is bond?
A bond is a debt security that resembles an IOU. Borrowers issue bonds to raise money from investors who are willing to lend to them for a set period of time. When you buy a bond, you are lending money to the issuer, that could be a business, the state, or a local authority. In return, the issuer agrees to repay the principal of the bond when it "matures," or it becomes due, after just a predetermined period of time, and to pay you a specific interest rate over the course of a bond's life.
The market price of the bond is now 109:4, which means that the bond has increased in value since it was issued. This means that market interest rates have gone down since the bond was issued. The current yield of the bond is now 4.53%.
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what type of lease gives the lender the power to evict tenants when a building owner does not make the mortgage payments?
Subordinate lease is the type of lease which gives the lender the power to evict tenants when a building owner does not make the mortgage payments.
A mortgage, also known as a hypothec loan in civil law jurisdictions, is a loan used by real estate buyers to raise money to purchase real estate or by existing property owners to raise money for any purpose while placing a lien on the property being mortgaged.
A procedure called mortgage origination is used to "secure" the loan against the borrower's property. In the event that the borrower defaults on the loan or otherwise disobeys its terms, this means that a legal mechanism is established that enables the lender to take possession of and sell the secured property to pay off the loan.
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jones co, produces 3 dolls. each doll has hair that is made of a special filament that is only available from one supplier. the filament sells for $4 per gram. tom wears a soccer uniform. sheila is in a wedding dress and requires some hand sewing. godiva has long hair. the budgeted selling price and costs for the 3 dolls are listed below: tomsheilagodiva selling price.............$25$40$35 direct labor..............$5$10$5 plastic (body)...........$3$4$4 fabric (clothes)........$2$3$0 hair.........................$2$4$10 variable overhead...$1$2$1 fixed overhead.......$4$8$4 total cost...............$17$31$24 profit per doll..........$8$9$11 the fixed overhead costs are all common fixed costs that are simply allocated among the product lines. the fixed cost per unit above assumed production and sales of 3,000 toms, 3,000 sheilas, and 4,000 godivas. assume there is unlimited demand for all three products. jones plans to produce 10,000 dolls. assuming that there are no constraints on any of the production resources, which doll should be produced to maximize net income for jones co.? a. tom b. sheila c. godiva
Godiva produced 88000 net income. Godiva should be produced more to generate more net income.
After taxes and other withholdings are deducted from your paycheck, your net income is the amount you keep. The money that remains after paying for business expenses is referred to as net income for firms.
To calculate net income, the formula used in business is revenues - expenses. Here's the net income of each doll.
Tom:
Net Income: Revenues - Expenses
(25 * 3000) + (8 * 3000) - (17 * 3000)
48000
Sheila
Net Income : ( 40 * 3000) + (9 * 3000) - (31 * 3000)
54000
Godiva:
Net Income: (35 * 4000) + (11 * 4000) - (24 * 4000)
88000
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When a company owner practices price discrimination, the marginal revenue of an extra unit sold.
The price paid for that unit is just the incremental revenue generated from each subsequent unit sold, and as a result, the demand curve provides this information.
The cost of each extra unit is once more determined by the firm's marginal cost curve because price discrimination has no impact on the firm's cost structure.
Price discrimination is a microeconomic pricing technique in which the same provider sells the same or substantially similar items or services in different marketplaces at different prices.
The profit a company makes from an increase in sales is known as incremental revenue. When the volume of sales has increased, it can be used to calculate the additional revenue brought in by a certain product, investment, or direct sale via a marketing effort. It's common to compare incremental revenue to cost of product.
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all of the following are disadvantages of team selling except . selling teams can be confusing and overwhelming for customers salespeople who are used to having customers all to themselves may have trouble learning to work with and trust others on a team team selling reduces the overall efficiency of the selling process individual contributions and compensations can be difficult to assess in team selling team selling discourages individual contributors because the team receives credit for good performance
" Team selling discourages individual contributors because the team receives credit for good performance" is not the disadvantage of team selling.
Team selling is a common sales strategy used in account-based selling to boost deal closure rates. Team selling, in its simplest form, is a collaborative sales method where two or more team members work together to earn business rather than working those accounts alone.With the right sales and marketing professionals on your team, you can better understand the specific requirements and expectations of your consumers. Additionally, your team has access to diverse viewpoints on the selling process.Communication between departments can occasionally be challenging since each department operates differently and you risk missing some of your customers' needs. The drawback of team selling is this.Thus the correct option is E.
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What term is used to identify a form of outsourcing in which services are provided by an organization whose employees are in a foreign country?.
Offshoring is the term used to identify a form of outsourcing in which services are provided by an organization whose employees are in a foreign country.
What is the meaning of Off-Shoring?Offshoring is the procedure by which a commercial operation, including manufacturing, or a supporting operation, such as accountancy, from one nation to another. Offshoring is typically associated with a corporation, though individual states may also use it.
Offshoring is the process of moving operations or ownership of an entire operation to a nation other than the one (or nations) in which the company requesting the services is based.
Offshoring is the process of outsourcing operations abroad, typically by businesses from rich nations to less developed nations, to lower operating costs.
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n november the labor force in siouxtown, was 14,800. there were 14,483 persons employed. the local unemployment rate: was 1.2%. was 2.1%. was 5.6%. was 7.1%.
The local unemployment rate was 2.1%. Unemployment Rate: the percentage of unemployed people divided by the labour force. The unemployment rate is the proportion of people in the labour force who are out of work.
As a result, calculating the unemployment rate necessitates determining who is in the labour force. People in the labour force are either employed or unemployed. Cyclical unemployment is caused by low consumer demand. When demand falls, businesses lose too much profit. They must lay off workers if they do not expect sales to improve anytime soon. Higher unemployment reduces consumer demand even further, which is why it is cyclical.
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Farmer McDonald sells wheat to a broker in Kansas City, Missouri. Because the market for wheat is generally considered to be competitive, Mr. McDonald maximizes his profit by choosing...
the quantity at which market price is equal to Mr. McDonald's marginal cost of production.
Wheat is sold by Missouri farmer McDonald to a broker in Kansas City. Since the wheat market is often thought to be competitive, Mr. McDonald makes the most of...
What countries cultivate wheat?
The Northern Hemisphere's temperate regions are where the majority of the world's wheat is farmed. In regions with warm winters, such as North Africa, Pakistan, India, Mexico, South America, and Australia, spring wheat is grown. In the majority of the United States, Europe, and China, winter wheat is sown in the fall.
Is wheat cultivation considered agriculture?
In terms of planted acreage, production, and gross farm income, wheat trails only maize and soybeans among U.S. field crops. According to estimates, American farmers will have produced 1.65 billion bushels of winter, spring, and summer crops in 2022–2023.
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