Costs, also called differential costs, are the additional costs incurred if a company pursues a certain course of action is the extra or incremental income obtained from choosing one course of action over another. sums that the business would avoid if it got rid of the section.
How Does Differential Cost Work?The cost difference between two potential decisions or a change in production level is known as a differential cost.The idea is applied when there are several viable options to consider and it is necessary to choose one and reject the others.The idea might be especially helpful in step costing scenarios when creating an extra unit of output might incur a sizable additional cost.What is the additional cost?A cost that is mentioned in a spell's rules text or added to a spell or ability from another effect and that its controller must pay in addition to the mana cost or activation cost of the spell or ability they are controlling is known as an additional cost.Only when a cost is expressed using the word "additional," is it considered an additional expense.Optional or required charges may apply.Learn more about differential costs and additional costs here:
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The term "costs" refers to the additional expenses that a company incurs when it chooses to pursue a specific course of action. These costs are also known as differential costs.
To understand this concept better, let's consider an example. Imagine a company is deciding whether to introduce a new product line. If they choose to pursue this course of action, there will be additional costs associated with manufacturing, marketing, and distribution of the new products. These costs include expenses such as raw materials, labor, advertising, packaging, and transportation.
On the other hand, if the company decides not to introduce the new product line, these costs would not be incurred. The difference between the costs of pursuing the new product line and not pursuing it is what we refer to as differential costs or costs.
It's important to note that differential costs are not the same as total costs. Total costs include both the fixed costs that remain constant regardless of the course of action and the variable costs that change based on the level of production or activity.
To calculate the differential costs, you need to compare the costs of one course of action to another. Subtracting the costs associated with not pursuing the action from the costs associated with pursuing it will give you the differential costs.
In summary, costs or differential costs are the additional expenses incurred when a company chooses to pursue a specific course of action. These costs are calculated by comparing the costs of pursuing the action to the costs of not pursuing it.
Which of the government wide commercial purchase card programs mandatory oversight procedures involves validating that all data mining cases are closed and assessing the key purchasing?
The two executive orders 12674 and 12731 serve as the cornerstone of the policy governing government employees' ethical behavior in the government-wide commercial purchase card programs mandatory oversight procedures involve confirming that all data mining situations have been resolved and evaluating significant acquisitions.
What is ethical conduct in government?No unapproved agreements or promises of any type that aim to bind the government may be made by employees. Employees are not permitted to use their jobs for their own gain. Employees are expected to act impartially and refrain from favoritism toward any private organization or individual.
Principles of Ethical Conduct for Government Officers and Employees, Executive Order 12731 and 12674. Article 101. Each Federal employee shall respect and abide by the basic principles of ethical service as outlined in the regulations adopted in accordance with sections 201 and 301 of this order. These principles are as follows: Public service is a public trust.
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The value of what businesses provide to other businesses is captured in the final products at the end of the __________ chain.
The required answer is production.
Production:
Producing something is the act of creating something out of components or raw resources. To put it another way, production employs inputs to produce an output that is fit for consumption—a good or product that has value for a customer or end-user.One of the most crucial steps in the manufacturing process, production is fundamental to what it means to be a manufacturer. Without this activity, no finished goods would be produced, leaving no products for buyers to purchase.The purpose of production is to provide the economy with commodities and services. Land is the primary factor of production, but term also refers to any other natural resource that is used to create commodities and services. This includes everything that comes from the land, not just the land itself.Learn more about production here brainly.com/question/24481793
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Amir is a computer engineer. he occasionally works for a lazlo inc., a publishing company; however, he only works for the organization when he is needed. amir would be classified as a(n)
amir would be classified as an on-call worker.
What is on-call worker?An on-call employee (oproepkracht) works only when you, the employer, summon them. You and your employee have agreed on this. There are various forms of on-call contracts, each with its own set of rules.
An on-call schedule (or on-call shift) is a timetable that guarantees the appropriate person is always accessible, day or night, to respond rapidly to events and outages. On-call doctors in the medical field are expected to respond to medical crises at any moment during their shift.
On call is a vital duty among many IT, developer, support, and operations teams that provide services that customers demand to be available 24 hours a day, seven days a week. Team members rotate via an on-call cycle, providing coverage around the clock or solely during normal business hours.
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How can oligopolistic firms influence their profits and the profits of their rivals?
The way that oligopolistic firms influence their profits and the profits of their rivals is by changing their pricing strategies.
How can oligopolistic firms influence profit?In oligopolistic markets, there are a few suppliers which means that when either of them changes prices, it can affect the market share of their competitors.
In order to change profits, oligopolistic firms will therefore lower their prices which leads to them selling more and making more profit. This would also lead other firms to reduce prices which would lead to every firm in the market making losses.
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The discounted cash flow valuation shows that higher cash flows earlier in a project's life are?
The discounted cash flow valuation shows that higher cash flows earlier in a project's life are more valuable than higher cash flows later on.
Discounted Cash Flow (DCF): What Is It?
The value of an investment is calculated using the discounted cash flow (DCF) approach based on the projected future cash flows. Using predictions of how much money investment will make in the future, DCF analysis aims to determine the value of the investment today.
This holds true for business owners and managers trying to decide on capital budgeting or operating expenses, as well as for investors in firms or securities, such as those intending to acquire a company or a stock.
The formula for Discounted Cash Flows (DCF)
The DCF formula is:
[tex]DCF = \frac{CF_{1} }{(1+r)^{1} } + \frac{CF_{2} }{(1+r)^{2} } + \frac{CF_{n} }{(1+r)^{n} }[/tex]
where CF 1 is the cash flow for the first year.
CF2 stands for the year two cash flow.
CFn = The cash flow forecast for subsequent years
Discount rate = r.
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When determining what a country should specialize in producing, economists chiefly consider:____.
When determining what a country should specialize in producing, economists chiefly consider comparative advantage.
What is comparative advantage and why is it important?
One advantage of comparative advantage is having the capacity to produce a good or service for a lower opportunity cost. Companies that enjoy a comparative advantage can provide their goods and services at lower prices than their competitors, which boosts their profit margins and increases their sales margins.
When a country has a comparative advantage?
When a nation can produce with a lower opportunity cost than its trading partners, it is said to have a comparative advantage. A nation can produce all goods with an absolute advantage, even though it cannot have a comparative advantage in all goods and services.
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How has wegmans motivated their employees through attractive perks and fringe benefits?
Wegmans motivated their employees through attractive perks and fringe benefits that they provided flexible or compressed schedules, policies that extend to same-sex partners, and above-average wages.
Brothers Walter and John Wegman (Robert Wegman's father and uncle) learned the grocery trade while working in their parents' store in Rochester. Selling fresh produce from a wheelbarrow, John opened his company, Rochester Fruit & Vegetables, in 1916, which marked the beginning of Wegmans, His Foods, His Market.
On Glassdoor, over 2,000 employees share why they love working at Wegmans, citing everything from flexibility to work fluidity. For these reasons and more, 94% of his employees say they are proud to tell others they work for Wegmans.
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An employer would be expected to make reasonable accommodations for a disabled worker, such as?
An employer would be expected to make reasonable accommodations for a disabled worker, such as allowing a part-time schedule.
Employer consider employee regarded as part-time if they regularly work fewer than 30 hours per week, which typically translates to working fewer a days per workweek. One who works less hours per week than a full-time employee is considered part-time.
Pro rata, part-time employer are given the same employment benefits as full-time employees. Although there isn't a set number of hours that defines someone as the full- or part-time, a full-time employee often puts in 35 hours or more each week.
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Porosity is the ratio of _________ to _________.
a. total rock volume to pore space
b. pore space to total rock
c. volume permeability to total rock volume
d. total rock volume to permeability
Porosity is the ratio of pore space volume to bulk volume of the rock.
Porosity is the fine of being porous, or complete of tiny holes. liquids move proper via matters that have porosity. pass returned a ways sufficient.
Porosity is the proportion of void area in a rock. it's miles defined because the ratio of the quantity of the voids or pore area divided by the full volume. it's far written as both a decimal fraction among zero and 1 or as a percentage.
Porosity of a rock is a degree of its capacity to hold a fluid,it is the open space in a rock divided with the aid of the total rock quantity (stable and space. Permeability is a degree of the convenience of drift of a fluid through a porous stable,ratio as shown in Equation eight. each porosity and void ratio are used to represent the open area of soil, sediments and rocks.
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This year, nine national retail big box technology companies started and opened many retail stores across the nation. Now there are many more big box retail tech companies in the market. With many more competitors, what will likely happen to the supply of goods for customers
Given that there are many competitors now in the market, what is going to happen is that The supply of goods will increase and cause a decreases in the price of goods.
What is meant by the supply of goods?This is the term that is used to refer to the availability of goods in the market for the consumers to obtain. The supply of goods may affect the prices of goods and services in the market in several ways.
When there are many competitors supplying goods, this would tell us that the goods would be much in the market. This would prevent a single firm from controlling the market. In turn, the price of the goods would then be cheaper for consumers.
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Among the hurdles small businesses must overcome in starting to operate gloablly are:______.
Among the hurdles small businesses must overcome in starting to operate globally are understanding cultural differences, bureaucratic paperwork and difficulty finding financing.
Generally speaking, a small business is a privately held corporation, partnership, or sole proprietorship with fewer employees and lower yearly income than a corporation or regular-sized business. According to the Small Business Association, a micro firm is a subset of a small business that has fewer than 10 employees, whereas small enterprises can have up to 500 workers.
Small companies are the second largest employer in the Indian economy after agriculture. Small firms create the most jobs per dollar of investment in capital when compared to large organizations. They are the second-largest employers in the human resources sector as a result.
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Lower-level managers are empowered to make decisions in a ______ organization, which can ________ motivation and job satisfaction.
Lower- level managers are empowered to make decisions in a decentralized organization, which can increase motivation and job satisfaction.
What is decentralized organisation ?
A company with a decentralized organizational structure is one where mid- and lower-level managers make most of the decisions, rather than the senior management team. Sometimes the employees themselves are even involved in the decision-making process. The opposite of a decentralized organization is a centralized one, where the highest-ranking leaders within the company make all major decisions, and there is a strict decision-making hierarchy. Most companies are not fully decentralized or centralized, having various degrees of both instead.
Some of the main situations where decentralized organization works well include:
When a company has different points of contact with its customers and each requires highly individualized customer service.When an organization has a large number of different store locations and its upper management cannot monitor all of them and make important decisions for them.When the market for a specific product is fast-paced and there is intense competition, so all decisions need to be made as quickly as possible.Where new developments constantly alter the business model, making centralized control less effective.Centralized organization :
A centralized organization is an organization that has a consolidated management system with decisions made by the top management then trickling down the chain of command to reach the organization's employees. Centralized organizations are distinguished by specific characteristics, which include;
The management has a top-down approach where the subordinates follow orders without question.The organization has a well-established bureaucracy with a distinct chain of command.All the decisions are centrally made, and the opinions of subordinates are hardly considered.Learn more about decentralized organisation :
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The government controls many or most factors of production in which economic system?.
Government Controls Production in Command Economy.
What is the economic command?When the government has complete control over the economy and the means of production, the economy is referred to as a command or planned economy. In a command economy, decisions on what to create, how to make it, and how to distribute it within the economy are made by the government.In a command economy, the government has complete authority over the economy it oversees. The government regulates wages and prices. There are few property rights, important companies and industries owned by the government, and active black markets.Supply and demand factors, which determine what, how much, and at what price goods and services should be produced, are not allowed under a command economy. Instead, all economic activities are planned, coordinated, and under the direction of a single government, which discourages market competition.Government Controls Production in Command Economy.
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Unreimbursed employment related expenses are classified as deductions for agi.
a. true
b. false
False, Unreimbursed employment expenses are miscellaneous itemized deductions subject to the 2% of AGI floor, which is no longer deducted.
Unreimbursed employee expenses are those charges for which the company has not paid you back or given you an allowance. The IRS classifies employee expenses as regular and important charges.
Adjusted Gross Income, or AGI, starts together with your gross earnings and is then reduced by sure “above the line” deductions. Some common examples of deductions that lessen adjusted gross profits include 401(k) contributions, health savings account contributions, and educator prices.
Adjusted Gross income (AGI) is defined as gross income minus adjustments income. Gross income consists of your wages, dividends, capital gains, commercial enterprise earnings, and retirement distributions in addition to other profits.
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Dividend payments that are the result of liquidation of assets are known as ________ and are taxed as capital gains.
Dividend payments that are the result of liquidation of assets are known as return of capital and are taxed as capital gains.
When an investor receives a portion of their initial investment that is not seen as income or capital gains from the venture, this is known as a return of capital.
Remember that an investor's adjusted cost basis is lowered by a capital return. Any further return is taxable as a capital gain until the stock's adjusted cost basis is lowered to zero.
When someone invests, they risk their principal (sometimes referred to as the cost basis) in the intention of earning a return. The return of capital occurs when an investor receives their principal.
It's akin to getting your original money back because it isn't regarded taxable because it doesn't include gains (or losses).
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It appears that kkr is willing to pay a lot more for rjr than the market value of rjr before the takeover contest. what are the potential sources of this value gain?
The justification was that the superior financing of the KKR bid would require less gutting of the company to pay off debts
What is debts?Debt is an obligation that requires one party, the debtor, to pay another party, the creditor, money or other agreed-upon value. Debt is a delayed payment or series of payments that differs from an immediate purchase.
Student loans, mortgages, and business loans are examples of "good" debt, which is defined as money owed for things that can help build wealth or increase income over time. "Bad" debt is defined as credit card or other consumer debt that does little to improve your financial situation. These are exaggerations.
In accounting, debt is classified as a liability. Debt can refer to a variety of different numbers on the balance sheet, ranging from wages payable to tax payable.
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Requiring employees to scan a unique badge to enter your facility is an example of:_________
Requiring employees to scan a unique badge to enter your facility is an example of facility access controls.
An employee is a person who is paid to work for an individual or company. A worker does not have to work full time to be considered an employee. You just need to be paid for the work by your employer (the person or company that pays your wages).
You should take care of your employees as much as you take care of your customers. If you trust and value your employees, they will be more committed to serving your customers well and ultimately contributing to your company in a great way.
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Steel workers who process metal ore and autoworkers, who then convert the ore into automobiles, trucks, and buses, are engaged in _____ sector production
Steelworkers who process metal ore and autoworkers, who then convert the ore into automobiles, trucks, and buses, are engaged in secondary sector production.
What is production?
The term production refers to process of things can be created. The production complete with help of labor, employees, and machinery. The production process as raw material converted into finished goods.
The primary products converted and modified is called secondary sector production. The manufacturing process as to improve material, surface integrity and modulate product. For example of secondary sector production are trucks, buses, and other automobiles etc.
Hence, the significance of the production is aforementioned.
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Richard is consuming x and y so that he is spending his entire income and mux/px = 6 and muy/py = 10. to maximize utility, he should:_____.
Richard is consuming x and y so that he is spending his entire income and mux/px = 6 and muy/py = 10. to maximize utility, he should consume the same amount of X and Y since he is already maximizing utility.
When consumers maximize utility they are equating the ratio of total utility to price across all goods consumed?
When consumers maximize utility, they are comparing the cost of all the items they consume to the marginal utility. A negative total utility follows from a negative marginal utility. Total utility is at its lowest point when marginal utility is zero. Even though the marginal utility is negative, the total utility might still be positive.
What is the rule for maximizing utility?
Spending money on the item that offers the highest marginal utility per dollar of spending is the best way for consumers to optimize their overall utility for every dollar they spend.
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In a job interview, the interviewer asks different questions of each candidate and there is no formal scoring method. this is an example of a(n)?
In a job interview, the interviewer asks different questions from each candidate and there is no formal scoring method, this is an example of Unstructured interview.
An unstructured interview is a type of interview in which the interviewer asks questions that are not prepared in advance.
In unstructured interviews, questions come out on their own during a naturally flowing conversation, therefore different questions are asked of various candidates.
Other names for unstructured interviews include:
Informal interviews
Casual interviews
Free-flowing interviews
Advantages of unstructured interviews
The main advantage of an unstructured interview is their personalized approach. This is especially useful when you compare candidates who are equally qualified or for jobs where their personality and communication skills are crucial.
Additionally, since unstructured interviews allow for a free-flowing conversation, they seem much more casual and help candidates relax and feel more comfortable during the interview.
Disadvantages of unstructured interviews
Since in unstructured interviews different candidates are asked different questions, it’s harder to compare their answers and evaluate candidates equally and objectively.
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You sold jcp stock short at $80 per share. your losses could be minimized by placing a:__.
a) limit-sell order.
b) limit-buy order.
c) stop-buy order.
d) day-order.
e) none of the options are correct.
You sold JCP stock short at $80 per share. your losses could be minimized by placing a Buy-stop order.
When security hits a certain price, a buy-stop order orders a broker to buy it. When the price reaches that point, the buy-stop changes into a market or limit order that can be filled at the following price.
This kind of stop order is applicable to a wide range of tradable products, including stocks, derivatives, forex, and others. With the underlying presumption that a share price will continue to grow after reaching a given level, the purchase stop order can be used for a variety of objectives.
Most people think of a buy-stop order as a technique to guard against the potentially limitless losses of an exposed short position.
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cultural and behavioural expectations of studying for a degree in business management
The Cultural and behavioural expectations of studying for a degree in business management is to be able to know the relationship and the culture with respect to behaviors of employees, managers and customers.
What is cultural behavior in business?The cultural behavior in business helps to be familiar with the employees, managers and customers and the relationship between them as regards the culture of the business.
This help to know the team's behavior, as well as setting them up to to record success in workplace.
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What is a long-term purchase commitment to a supplier for items that are to be delivered against short-term releases to ship?.
A long-term purchase commitment to a supplier for items that are to be delivered against short-term releases to ship is called "blanket orders".
What are blanket orders?A blanket order would be a purchase agreement that a customer issues to a supplier that specifies a number of delivery dates spread out over time, frequently arranged to take the advantage of fixed prices.
Some characteristics of blanket order are-
When there is recurring requirement for consumable goods, it is typically used. Instead than filing a new purchase order (PO) every time supplies are required, things are procured under a single PO. By placing a blanket order, the client can avoid holding more stock than necessary, save on administrative costs associated with processing numerous purchase orders, and take advantage of bulk discounts or price cuts. A fixed rate contract is established for a certain length of time for a blanket order.The buyer compares competing supplier bids and seeks out the best price. Following the selection of the best candidate, the pricing of the goods are set, and the supplier is given the quantities of the each product to arrange stock for delivery as asked. The buyer provides the forecasted quantity as entire consumption quantity that has been historically recorded for a few years or as required for quantitative analysis.To know more about the blanket purchase order (blanket order), here
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A product-process matrix can be used to address the fact that customers often participate in service processes.
a. True
b. False
A product-process matrix can be used to address the fact that customers often participate in service processes.
This is FALSE.
A customer is a recipient of goods, services, products, or ideas obtained from a seller, vendor, or supplier through financial transactions or in exchange for money or other valuable consideration.
A customer is an individual or business that purchases goods or services from another business. Customers are important because they drive sales. Without them, companies cannot continue to exist.
The definition of customer is a person who purchases products or services at a store, restaurant, or another retail establishment. An example of a customer is someone who goes to an electronics store and buys a television. (informal) A person, especially a person, who interacts with others in some way.
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Target costing sets costs based on the price that customers are willing to pay.
a. true
b. false
It is False that Target costing sets costs based on the price that customers are willing to pay.
Because target costing estimates product cost by subtracting a desired profit margin from a competitive market price. As the target cost makes reference to the competitive market, it is fundamentally customer-focused and an important concept for new product development.
Costing is any system for assigning costs to an element of a business.
Competitive is most commonly used to describe a person who has a strong desire to compete and win.
Development is the act, process, or result of developing the development of new ideas an interesting development in the case.
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_______ consumers in the united states have increasing influences on mainstream u. S. Culture, and the buying power of this group is projected to reach $1. 3 trillion in 2015.
Hispanic consumers in the U.s. have an increasing influence on mainstream U. S. Culture.
What is the Hispanic consumer?Hispanic customers are more probable to encounter unique shopping actions, such as shopping online for the first time or buying from new retailers. Categories such as home furnishings and décor and apparel and accessories have moved Hispanics online for the first time to shop for these articles.
Successful Hispanic marketing movements take proper planning, rehearsal, and a profound understanding of the Hispanic market. By factoring in language choices, cultural values, compelling creative messaging, and target audience into account, your company can effectively position itself within the Hispanic market.
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Assume Manfred hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively. If the wage rate is $11, how many workers will Manfred hire to maximize profits
Manfred can hire 5 workers to maximize profits as the products are sold for $6 each and there is enough production in an hour to hire 5 workers.
What is a worker?Worker is an employee who works for the company, the worker is also called a labor. Labor is paid on an hourly rate, or sometimes a piece of rate is paid in which the labor is paid as much as much production is done or in other words the units are made.
If Manfred hires 5 workers each will be paid $11 per hour, if the worker works for 7 hours a day the total pay for a worker is $77 per day per employee.
The total wages for the 5 workers will be $385 ($11/hour * 7 hours a day * 5 workers).
The total for the month assuming 22 working days will be $8,470 ($11/hour * 7 hours a day * 5 workers * 22 Days)
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Organizations should define themselves not according to the products they produce but according to?
Organizations should define themselves not according to the products they produce but according to how they satisfy their customers. In today's world satisfying a consumer is a important aspect for every company as people do not prefer to run in the rat race of brands. They more focuses on whether they are happy or satisfy with company's products or services.
Earlier doing sale was the only motive of every firm but now this is not so. Organizations uses marketing now a days. Marketing focuses on satisfying customer with sale of goods or services. Marketing also increases the profitability and credibility of the company.
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A movement along the phillips curve shows that the unemployment rate and inflation rate are.
The Phillips curve argues that unemployment and inflation are inversely related
What is Phillips curve?The Phillips curve is an economic model named after William Phillips, who hypothesised a link between lower unemployment and higher rates of wage growth in an economy.
The Phillips curve is a graph that depicts the economic link between the rate of unemployment (or the rate of change in unemployment) and the rate of change in money earnings. It is named after economist A. William Phillips and suggests that when unemployment is low, wages tend to rise quicker.
According to the Phillips curve, inflation and unemployment are inversely related. Lower unemployment is associated with higher inflation, and vice versa. The Phillips curve was a notion used to drive macroeconomic policy in the twentieth century, but it was put into doubt by the 1970's stagflation.
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True or false: a localized total product strategy requires changes to the physical product.
The statement, a localized total product strategy requires changes to the physical product, is false.
The localization product strategy is the process of adapting a product to satisfy the language and cultural needs of the customers in the new markets. This can be done through altering packaging, translating text, or modifying content on websites so that it is appropriate for international customers to buy.
Products can also be localized by changes to the package, accessories, brand name, after-sales service, instructions for use, company image, and warranty.
Hence, a localized total product strategy does not require changes to the physical product. It is false.
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