The segmentation strategy is typically associated with lower costs than a standardization strategy is not true about the implications for cost and revenue and market segmentation.
What is market segmentation?Market segmentation is a marketing term that refers to the grouping of potential buyers into groups or segments that share common needs and respond in the same way to marketing intervention. market segmentation allows companies to target different groups of consumers who perceive the full value of certain products and services differently from one another.
Advantages of market segmentation;
Increased resource efficiency: Marketing segmentation allows management to focus on specific demographics or customers. Stronger brand image: The marketing segment forces management to think about how it wants a certain group of people to see it. Once the market segment is identified, management must consider what message to create. Better potential for brand loyalty: Marketing segmentation increases the chances of consumers to build a long-term relationship with a company.To learn more about market segmentation, refer;
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susan is a real estate licensee. her mother is moving to a facility for active seniors and has asked susan to sell her home. what information does susan need to disclose to prospective buyers?
Susan needs to disclose the information to prospective buyers that her mother owns the property and in the home, Susan's father passed away.
What is property?Property refers to both the set of legal rights that endows individuals with control over priceless objects as well as the items themselves. Depending on the type of property, an owner may have the right to consume, alter, share, redefine, rent, mortgage, pawn, sell, exchange, transfer, give away, or destroy it, or to forbid others from doing so. They may also be able to abandon it, but regardless of the type of property, an owner has the right to use it in accordance with the property rights that have been granted to them. The possession or control of property owned jointly by more than one party may be exercised equally or unequally, in very similar or very different ways, simply or complexly.
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Which of the following, if true, would illustrate why price indexes such as the CSPI might overstate inflation in the cost of going to college? Check all that apply.
A. Professors required each student to buy 15 notebooks, regardless of the price.
B. A new type of personal transporter, which made it easier to get around places like university campuses, became available for purchase.
C. As the price of energy drinks increased relative to the price of coffee between 2017 and 2019, students decreased their consumption of energy drinks and increased their consumption of coffee.
D. The quality of textbooks increased dramatically from 2017 to 2019, with textbook companies bundling new online study aids with their books, but this quality change is hard to measure.
Options B, C, and D would illustrate why price indexes such as the CSPI might overstate inflation in the cost of going to college.
B. A new type of personal transporter, which made it easier to get around places like university campuses, became available for purchase.
C. As the price of energy drinks increased relative to the price of coffee between 2017 and 2019, students decreased their consumption of energy drinks and increased their consumption of coffee.
D. The quality of textbooks increased dramatically from 2017 to 2019, with textbook companies bundling new online study aids with their books, but this quality change is hard to measure
A price index scale is used to calculate changes in market prices. This device is the most useful one for determining how the value level will change. Value records, each focusing on the expenses of a group of goods and ventures crucial to a certain sector of the economy, are used in many countries to quantify swelling.
The price index measures value changes as a percentage using a rating system. A price list might be built around the cost of a single item or a specific assortment of items known as a market crate.
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which of the following regarding return and risk is correct? the lower the risk, the better it is for individuals. risk is defined as the probability of outperforming the market. the higher the risk, the better it is for individuals. risk is the volatility of return.
The higher the risk, the better it is for individuals is the return and risk is correct. Hence, option C is correct.
What is return and risk?Risk and return in financial management refer to the potential dangers and rewards of an investment. Financial returns from investments with higher risk levels often outpace those with lower risk levels.
Whether they come in the form of interest, dividends, or market gains in the value of the security, a return is the word used to indicate profits from an asset after a given time period. While uncertainty surrounding the timing of getting this return is referred to as risk. Simply explained, it is a chance of getting a return on investment.
Thus, option C is correct.
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walt has convinced top management at his company that they can use data-mining techniques to develop new marketing strategies. one of the keys to the success of his suggestion is\
One of the keys to the success of his suggestion is making sure that the applications they use to analyze data are not flawed.
What is analyzing data?The deliberate use of logical and/or statistical methodologies to explain and show, summarize and analyze, and assess data is known as data analysis.
As a basic illustration of data analysis, every time we make a decision in daily life, we take the past or the potential future into account. This is nothing more than making decisions based on an evaluation of the past or the future.
Thus, applications they use to analyze data are not flawed.
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Complete the car class by creating an attribute purchase_price (type int) and the method print_info() that outputs the car's information. Ex: if the input is: 2011 18000 2018 where 2011 is the car's model year, 18000 is the purchase price, and 2018 is the current year, then print_info() outputs: car's information: model year: 2011 purchase price: $18000 current value: $5770.
The program to complete the car class by creating an attribute will be:
class Car:
def __init__(self):
self.model_year = 0
# setting the purchase_price attribute that will be used to set the purchase price of the car
self.purchase_price = 0
self.current_value = 0
def calc_current_value(self, current_year):
depreciation_rate = 0.15
# Car depreciation formula
car_age = current_year - self.model_year
self.current_value = round(self.purchase_price * (1 - depreciation_rate) ** car_age)
What is a computer program?It should be noted a computer program is a sequence or set of instructions that are in a programming language for a computer to execute.
In this case, the the car class is illustrated by creating an attribute purchase_price (type int) and the method print_info() that outputs the car's information.
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FILL IN THE BLANK. According to Crosby, _____ is a performance standard which involves concentrating on preventing defects rather than just finding a fixing them.
According to Crosby, zero defects is a performance standard which involves concentrating on preventing defects rather than just finding and fixing them only.
In an organization, Zero Flaws (or ZD) is a collaborative program or mindset where everyone works together to achieve the aim of having no defects in quality. The idea briefly had popularity in American business starting in 1964 as a management-led initiative to eradicate flaws in industrial output.
An articulation of the performance threshold(s), requirement(s), or expectation(s) that must be met in order to be evaluated at a specific level of performance is called a performance standard.
Performance standards are instructions that companies provide to their staff members to explain what is expected of them as a member of the team. They outline the responsibilities of the position and the standards of performance that the employee must meet.
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item3 4.16 points item skipped ebookhintprintreferencescheck my workcheck my work button is now enableditem 3 prepare journal entries to record each of the following transactions. the company records purchases using the gross method and a perpetual inventory system. august 1 purchased merchandise with an invoice price of $60,000 and credit terms of 3/10, n/30. august 11 paid supplier the amount owed from the august 1 purchase.
The journal entries for the transactions given above will have a debit and a credit effect. A total of two journal entries will be made, one on August 1 with a credit to Accounts Payables, and one on August 11 with a debit to the Accounts Payable for the firm. The journal entries have been made after assuming gross method and perpetual inventory system.
Merchandise inventory Ac. Dr. 60,000
To, accounts payable Ac. 60,000
Accounts payable Ac. Dr. 60,000
To, merchandise inventory(c) 2400
To, cash(c) 57600
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Complete question
prepare journal entries to record each of the following transactions. the company records purchases using the gross method and a perpetual inventory system. august 1 purchased merchandise with an invoice price of $60,000 and credit terms of 3/10, n/30. august 11 paid supplier the amount owed from the august 1 purchase.
Financial Management
Financial management deals with two things: raising money and managing a company's finances in a way that achieves the highest rate of return.
An essential component of general management is financial management. It is focused on the responsibilities of the business firm's economic managers.
Financial Management Goals
Financial resources are appropriately used by the business when procured and utilized effectively. It is the financial manager's most important component. Therefore, the financial manager must decide what the fundamental goals of financial management are. The two main features of financial management objectives include:
1. maximizing profit
2. Maximizing wealth.
To maximize profits
Profit is the primary goal of all economic activities. A company firm also operates primarily to make money. Profit is a metric used to gauge a company's operational effectiveness. Another common and limited strategy is profit maximization, which tries to increase a company's profit as much One of the contemporary strategies incorporating the newest advancements and advances in commercial concern is wealth maximization. The term "wealth" refers to shareholder money or the personal wealth of those involved in the firm.
Value or net present worth maximization are other names for maximizing wealth. In the sphere of business, this purpose is a widely acknowledged idea as possible.
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How does information become knowledge?.
Information becomes knowledge when it is compiled or applied to better comprehend something or carry out an action.
Why is knowledge derived from information?Information is derived from data in the same manner that data are derived from information. It could be interpreted as comprehending data according on how important or pertinent it is to a certain topic. It can also be viewed as a person's breadth of knowledge.Knowledge, which you get through experience or study, is awareness, comprehension, or a skill. Information is the specifics or facts about a topic. Information is what you can know, and knowledge is the knowing of something. Here are some use examples for each word.The diverse types of knowledge are shared and transformed through practise, cooperation, interaction, and education. In addition, pertinent data and information that can enhance judgments and act as building blocks for the development of new knowledge are supportive of knowledge creation.To learn more about knowledge refer :
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adelyn has a tentative general business credit of $42,000 for the current year. adelyn's net regular tax liability before the general business credit is $107,000, and her tentative minimum tax is $88,000. complete the statements below regarding adelyn's limitation on the general business credit. adelyn's general business credit is limited to her net income tax reduced by the greater of her tentative minimum tax or fill in the blank 2 % of the net regular tax liability that exceeds $fill in the blank 3 . therefore, adelyn's allowable general business credit for the year is
Adelyn's general business credit is limited to her net income tax reduced by the greater of her tentative minimum tax or 25 % of the net regular tax liability that exceeds $25000. therefore, adelyn's allowable general business credit for the year is $19,000.
Taxes point to mandatory contributions levied on person or manufacture by a government entity—whether local, regional, or national. Tax revenues value government activities, contain public works and services such as roads and schools, or programs such as Social Security and Medicare.
Adelyn's allowable general business credit for the year can be calculated by this equation below:
Adelyn's allowable general business = adelyn's net regular tax liability before the general business credit - tentative minimum tax
Adelyn's allowable general business = $107,000 - $88,000 = $19,000
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this year, its actuary informed gear-it-up bicycles, inc., that its required annual contribution to the company defined benefit pension plan needs to be significantly higher than last year. which of the following factors could be responsible for this increase in annual contributions?
The factors could be responsible for this increase in annual contributions and Lower-than-expected earnings on plan investments
A structured investment plan is an investment tool many mutual funds offer investors that allows you to invest small amounts on a regular basis rather than in lump sums. The frequency of investments is typically weekly, monthly or quarterly.
Investment planning is the process of identifying financial goals, developing plans, and executing them. Investment planning is the main part of financial planning. Investment planning begins with identifying goals and objectives.
There are basically six types of mutual funds. That is, growth or equity funds, liquidity or money market funds, bond or debt funds, hybrid or mixed funds, index funds, and tax saving funds. Mutual funds help investors achieve their short-term or long-term financial goals.
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___ is an arrangement in which countries give each other only preferential treatment by eliminating tariffs and other barriers on goods: free trade area.
Free trade agreement An agreement in which countries grant each other preferential treatment only by removing tariffs and other trade barriers free trade zone.
A free trade agreement or free trade agreement is an agreement under international law to form a free trade area between cooperating countries. There are two types of trade agreements: One of the most prominent bilateral and multilateral free trade agreements is the North American Free Trade Agreement (NAFTA) between Canada, Mexico, and the United States. The agreement was signed in 1992 and entered into force in 1994. An example of a trilateral free trade agreement. To date, it has eliminated many barriers and tariffs between the three countries.
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yummy yum-yum bars (yummy) was the first company to begin selling energy bars, which became very popular among different customer groups and led to a variety of flavor options rather quickly. yummy established strategic partnerships with key suppliers very early and built supply systems that made their operations very efficient. soon thereafter, other companies entered the market and started to sell their own brands of energy bars, which gave yummy lots of competition. in response, yummy came up with several important quality innovations and limited their product line to the four most popular varieties, which allowed them to offer the cheapest prices with the best accessibility in the market. additionally, they became well-known for having the lowest calorie energy bars, and for having the most consistent taste and texture in the market. due to their innovations, yummy has been able to consistently outperform its rivals for the past fifteen years and counting. in this scenario, yummy has maintained a through its innovative strategy (please select the best answer).
Through its creative & innovative strategy, Yummy has maintained a durable competitive advantage.
A company's resource allocation is controlled by its innovative strategy in order to meet its objectives for innovation, value delivery, and competitive advantage. A corporation should include in its strategy a study of its technology and competitive environment.
Sustainable competitive advantages are a collection of assets, characteristics, or abilities that help a business outperform its competitors in meeting customer demands. Long-lasting competitive advantages are difficult to duplicate or copy.
A lasting competitive edge is essential to corporate success. It is the main reason a business is more focused, has more sales, better profit margins, and a higher customer and employee retention rate than competitors.
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presented below is information related to buffalo company. beginning inventory purchases markups markup cancellations markdowns markdown cancellations sales revenue cost $295,812 1,398,000 retail $275,000 2,137,000 94,000 15,100 37.900 4,800 2,238,000 compute the inventory by the conventional retail inventory method.
The inventory by the conventional retail inventory method is: $212,093.95.
How to find the ending inventory at cost?Ending inventory at retail
Cost Retail
Beginning inventory $295,812 $1,398,000
Purchases $275,000 $2,137,000
Totals $570,812 $3,535,000
Add: Net markups
Markups $94,000
Markup cancellations $15,100 $78,900
Totals $570,812 $3,613,900
Deduct: Net markdowns
Markdowns $37,900
Markdowns cancellations $4,800 $33,100
Sales price of goods available $3,580,800
Deduct: Sales (net) $2,238,000
Ending inventory at retail $1,342,800
Cost-to-retail ratio:
Cost-to-retail ratio = Inventory at cost /Inventory at retail
Cost-to-retail ratio = $570,812 /$3,613,900
Cost-to-retail ratio = 15.79%
Ending inventory at cost = 16.15% × $1,342,800
Ending inventory at cost = $212,093.95
Therefore the ending inventory at cost is $212,093.95.
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The president of a small Asian country was hailed as a visionary and a genius when the nation's economy burgeoned during his first term in office. However, when the currency and the stock markets crashed during his government's second term, he was criticized as arrogant, elitist, and shortsighted. This scenario reflects the ________ theory of leadership.
attribution
traits
substitutes
LMX
behavioral
The leadership (A) attribution theory is illustrated by this situation.
What is the attribution theory?In psychology, the concept of attribution refers to how people categorize the sources of their daily experiences as either internal or external.
Attribution theory is the name given to models that describe this process.
According to the notion of attribution, people attempt to explain why others behave in a certain way or assign causes to behavior.
When trying to comprehend another person's actions, a person may assign one or several causes to that action.
A theory of leadership development and evaluation is based on the premise that people can infer someone's leadership potential by seeing and analyzing certain environmental and behavioral clues.
Therefore, the leadership (A) attribution theory is illustrated by this situation.
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Correct question:
The president of a small Asian country was hailed as a visionary and a genius when the nation's economy burgeoned during his first term in office. However, when the currency and the stock markets crashed during his government's second term, he was criticized as arrogant, elitist, and shortsighted. This scenario reflects the ________ theory of leadership.
(A) attribution
(B) traits
(C) substitutes
(D) LMX
(E) behavioral
reeves company is taking a physical inventory on march 31, the last day of its fiscal year. which of the following must be included in this inventory count? o goods that reeves is holding in inventory on march 31 for which the related accounts payable is 15 days past due. o goods in transit that reeves has sold to smith company. fob shipping point. o goods in transit to reeves, fob destination. o goods that reeves is holding on consignment for parker company.
The goods that Reeves has been holding in his inventories on March 31 for which the related Accounts Payable is 15 days past due must be included in the inventory count. Therefore, the option A holds true.
Inventory count can be referred to or considered as the count that represents the quantity or amount of goods available in the books of accounts as on the particular date of the accounting year. Only such goods are counted as a part of the inventory on the last date of the year, if they have an accounts payable due for at least 15 days.
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which of the following is an example of indirect cost that a sourcer must consider? group of answer choices sample shipping cost cost of switching factories due to a violation of social compliance travel cost to ensure delivery and quality only a and c all of the above
All of the above (Cost of switching factories due to a violation of social compliance, and Travel cost to ensure delivery and quality)
What is indirect cost?Indirect costs are business expenses that aren't immediately associated with a specific grant, contract, project function, or activity but are nonetheless important for the organization's overall operation and the performance of its activities.
When reviewing your financial statistics, you should keep in mind that staff salaries are an indirect cost. Even while it's inevitable that your staff will change, you want to keep onto the people that make your business profitable and useful to your clients.
Although fixed and variable costs have different effects on the business, both are crucial to its profitability.
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How do TNCs contribute to economic growth?.
TNCs are expected to increase capital inflows, strengthen a country's technological base, boost export competitiveness, and increase the quantity and quality of employment in developing countries.
What are the economic consequences of TNCs?A transnational corporation is a business that is involved in the international production of goods or services, foreign investments, or the management of income and assets in more than one country. It locates factories in developing countries where land and labor are less expensive.Employment creation a more consistent source of income than farming improved education and abilities Investment in infrastructure, such as new roads, benefits both locals and the TNC.The formation of trade blocs, the removal of international barriers, and changes in government policies to encourage economic liberalization, such as the removal of capital controls and legal restrictions, as well as the establishment of SEZs, all help to increase the size and number of TNCs.To learn more about TNCs refer to :
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budgeting method of setting a promotion budget, the budget is set by matching the competitor's absolute level of spending or the proportion per point of market share.
Competitive parity budgeting-allocating funds to advertising through matching the competitor's absolute degree of spending or the share per point of market share. Also called matching competitors or share of market.
What is the distinction between competitive gain and competitive parity?Competitive parity is an location the place you achieve standard or common consequences as in contrast to others in your industry. Competitive advantage is an vicinity in which you obtain above common effects in your industry, probably surpassing all competition.
Competitive disadvantage (CD) is a time period used to describe a business' lack of ability to correctly compete with their competitors. The chilling effect of CD is a shrinking client base.
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https://brainly.com/question/6663636#SPJ4which of the following expenditures would be capitalized as part of the cost of a construction company's truck?
A payment made to buy products or services, whether it's with cash or credit, is referred to as an expenditure.
It is recorded at a single moment in time (the time of purchase), as opposed to a cost, which is documented in a period where it has been used up or expired. In this article, the many types of expenses utilized in accounting and finance will be reviewed.
The acquisition of new tools for the job, machinery, plants, buildings, warehouses, furniture, fixtures, cars, hardware, software, and intangible assets like patents and licenses are a few examples of capital expenditures undertaken to enhance or improve assets.
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suppose that over a period of years country a switched from being an agriculturally-based economy to a technologically-based economy. as a result, many people lost jobs because they lacked the correct skills. as they search for new jobs, these people are part of
As a result of their lack of the necessary abilities, many people lost their jobs. These individuals are a part of structural unemployment as they look for new employment.
Assume that Quailing's economy shifted over a number of years from one that was centered on agriculture to one that was based on technology.
Loans with fixed interest rates will benefit the borrowers.
The unemployment rate in the economy will initially rise if the projected inflation rate is not higher than the actual inflation rate. Once the economy has had a chance to react to the higher inflation rate, the unemployment rate will only briefly increase before returning to normal.
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how can software assist in project stakeholder management? do you think social media tools are more likely to help or hinder projects?
For successful stakeholder involvement, you need a tool that was developed with your unique needs in mind. The cost savings brought on by a boost in project task efficiency is one of the main benefits of deploying stakeholder management software.
Do you think social media tools are more likely to help or hinder projects?
Social media helps you share crucial information like deadlines, important files, and progress reports while also connecting everyone on a team and facilitating communication between them.
We frequently see these real-world events through the eyes of individual stories and experiences posted on social media, as opposed to the reporting of major news organizations.
Therefore, We feel the need to react in some way as a result of the greater emotional and empathic reaction this causes.
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having money taken at regular intervals from your paycheck and put into a mutual fund is an example of:
One example of this would be to have money withdrawn from your paycheck on a regular basis and put into a mutual fund.a plan for investing automatically.
When you make an investment in a mutual fund, what happens to your money?
You can "mutually" buy stocks, bonds, and other investments by pooling your money with other investors through mutual funds.Professional money managers run them, and they choose which securities (stocks, bonds, etc.) to buy.when they should be sold.All fund investments and any income they generate are available to you.
Which of the following is the fund from which mutual funds are made?
A mutual fund can earn money from dividends, distributions of capital gains, and changes in the price of the fund's shares.The management company is the owner of a mutual fund.
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the_____strategy avoids the risks and responsibilities of investment timing because stock purchases are made regularly regardless of the price.
the Dollar-Cost Averaging (DCA) strategy avoids the risks and responsibilities of investment timing because stock purchases are made regularly regardless of the price.
Investing can be difficult. Even seasoned investors who attempt to timing the market to buy at the most advantageous times may not succeed.
By automating purchases, the dollar-cost averaging method can make it simpler to manage with volatile markets. Additionally, it encourages regular investing on the part of investors.
Regardless of price, dollar-cost averaging is investing the same sum of money in a target security at regular intervals over a predetermined length of time. Investors can lower their average cost per share and lessen the effect of volatility on their portfolios by employing dollar-cost averaging.
This tactic effectively does away with the need to try to time the market to buy at the best pricing.
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Most important in dealing with ethical and legal issues between the customer and the salesperson is for sales managers to.
Most important in dealing with ethical and legal issues between the customer and the salesperson is for sales managers to lead by example.
The process of creating a sales team, coordinating sales activities, and putting in place sales strategies that enable a company to consistently meet and even exceed its sales targets is known as sales management.
A sales management strategy is a necessity if your company generates any money at all. The key to success is always precise sales management processes when it comes to managing sales and improving sales performance for any size operation, regardless of industry. A strong sales manager who can motivate and guide a sales department is the first step in achieving this.
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Stakeholders who want to look at detailed financial information on whether a company is profitable, is able to pay its bills, and how much debt it owes will look at the firm's ______.
annual report
Learn with Quizlet and retain terms from flashcards such as Stakeholders who desire to examine in-depth financial data on the financial situation.
What is meant by a stakeholder?
a person or collection of persons who have stock in a company. a person with obligations to and an interest in the success of an organization, society, or other entity because they are associated with it, such as employees, customers, or citizens.
What distinguishes a stakeholder?
Image outcomeHow to locate project stakeholdersThe project's charter.taking a look at the enterprise environmental factors.interviewing the decision-makers.asking inquiries.Include stakeholders at every stage of the project.The deliverables must be accepted by all parties.Describe the controls controlling change.The key is effective communication.To know more about Stakeholders visit:
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exchange traded funds exchange traded funds cannot be sold short redeem their shares are bought and sold in secondary markets only buy exchangeable securities
Exchange-traded funds cannot be sold short redeem their shares are bought and sold in secondary markets only buy exchangeable securities: cannot be sold short.
A fund is a pool of money that is allotted for a specific purpose. A fund can be set up for many specific purposes: a city government placing aside money to construct a new civic middle, a college setting apart cash to award a scholarship, or an insurance organization that sets apart cash to pay its customers' claims.
A mutual fund is a professionally controlled funding fund that pools money from many buyers to purchase securities. The time period is usually used inside the USA, Canada, and India, whilst comparable structures across the globe encompass the SICAV in Europe and open-ended investment organization in the united kingdom.
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packaging serves several critical functions in the overall success of a product. some of these functions are multiple select question. giving a potential buyer
Answer:
Giving a potential buyer a sense of price, value, and uses.
Attracting the buyer's attention
Explaining the benefits of what's inside
Explanation:
One of the many roles that product packaging plays in a product's success is that it protects the product, aids in keeping the product/good contained, and informs the buyer about the product, among other things.
As a consequence, we can see that packaging is the process of placing an item or a product inside a container or package. Packaging is an essential branding step that also helps to draw in potential buyers with eye-catching packaging, but it also serves to preserve the package.
Good products must have a strong value proposition, solve an actual problem, be simply understood by users, carry out their jobs as quickly and effectively as possible, and get better the more you use them and become tougher to leave with.
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which of the following is likely to lead to weaker bargaining power for buyers? group of answer choicesa) buyers are concentrated b) buyers face low switching costs C) buyers are unaware of the prices charged by competitors D) buyers may backward integrate
Low switching costs exist for buyers. Customers may backward integrate because they are uninformed of the prices competitors charge.
What is backward integrate?Backward integration refers to the process wherein a corporation buys or merges with other companies that provide the raw materials required in the manufacture of its finished product.
Backward integration is a strategy that businesses adopt in the hopes of achieving cost savings, revenue growth, and increased production efficiency.
Backward integration is another strategy used by businesses to obtain a competitive edge and prevent new competitors from entering their market.
A company that uses backward integration tries to advance further down the supply chain, to the management of raw materials.
Hence, Low switching costs exist for buyers. Customers may backward integrate because they are uninformed of the prices competitors charge.
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the percent defective for parts produced by a manufacturing process is targeted at 4%. the process is monitored daily by taking samples of sizes n
The manufacturing process is monitored daily by taking the samples of sizes n that is 160.
What is manufacturing?Equipment, tools, and machinery are used in addition to labor, chemical or biological processes, or formulation, in the manufacturing process to produce items. It is the main focus of the economy's secondary sector. Although the phrase can be applied to a range of human pursuits, from handicraft to high-tech, it is most usually used to refer to industrial design, in which primary industry raw materials are converted into finished things on a vast scale. These commodities could be provided to customers and consumers through the tertiary sector or sold to other producers in order to be used in the development of more sophisticated goods (like automobiles, furniture, sporting goods, or household appliances).
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