Answer:
When businesses are deciding how to develop their products and services, they undertake market research. Market research can either be done by the company itself or taken from elsewhere. Having reliable market research data is essential. Basing decisions on unreliable research can be very costly to a business. For research to be reliable, it must have a high level of validity. This means that the facts and evidence gathered are accurate.
Two reasons why market research should be accurate:
Business Risks: Regular market research will be your way to check in with your current customers and potential customers to ensure that you’re still meeting their needs. If it is accurate business risks are reduced but if inaccurate, it could lead to the crash of your business.
Decision-making: The need for and importance of marketing research frequently comes up when making tough business decisions. Instead of having arbitrary criteria for the decisions you make as a business owner, you can always go back to your market research report. Based on that report, will this decision lead to more customers? Will you be able to reach more people who are likely to buy from you? Will it be clear to them that your business can meet their needs? With an accurate market research, the business can make properly informed decisions but with inaccurate market research, the business will be making unwise decisions
When a firm makes choices between a cost or value position to achieve competitive advantage, it is primarily involved in:
When a firm makes choices between a cost or value position to achieve competitive advantage, it is primarily involved in: strategic trade-offs.
What are strategic trade-offs?
This is a term that is used in the business word to refer to the sacrifices that a firm would make in order to be able to deliver on its goals.
Trade offs could be the service levels that the firm is not able to achieve.
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During the production era it was believed that one should produce as much as you can, because:
During the production era it was believed that one should produce as much as you can, because: the resources was unlimited.
What was the production era?This was the era that started the industrial revolution in the United States. The industrial era is known for the low cost production and mass production.
People produced goods and there was market for the products hence there was profitability.
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supplies expense is ______ and supplies is ______ for the amount of supplies used during the period that were originally recorded as an asset when purchased.
Supplies expense is debited and supplies is credited for the amount of supplies used during the period that were originally recorded as an asset when purchased.
What is supply?It should be noted that supply simply means the amount of goods and services that the seller is willing to sell at a price.
In this case, supplies expense is debited and supplies is credited for the amount of supplies used during the period that were originally recorded as an asset when purchased.
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Economists believe that people's wants are:
Economists believe that the wants of people are infinite.
What is want in economics?
These are the basic needs of people. In the field of economics it is believed that the wants of people are too numerous.
People have so many needs and the resources that are required to fulfill them are limited. This is the concept of scarcity.
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Product package sizes are becoming smaller around the world in a phenomenon called….
in the preparation of a pro forma income statement, an entrepreneur must first _____.
In the preparation of a pro forma income statement, an entrepreneur must first develop a sales budget.
What is sales budget?A sales budget is what gives summary of quantity of goods and services which a company intends to sell in the future. It is however used in the production budget.
Hence, in the preparation of a pro forma income statement, an entrepreneur must first develop a sales budget.
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On January 1, 2020, Archer, Incorporated, paid $100,000 for a 30% interest in Harley Corporation. This investee had assets with a book value of $550,000 and liabilities of $300,000. A patent held by Harley having a book value of $10,000 was actually worth $40,000 with a six-year remaining life. Any goodwill associated with this acquisition is considered to have an indefinite life. During 2020, Harley reported net income of $50,000 and paid dividends of $20,000 while in 2021 it reported net income of $75,000 and dividends of $30,000. Assume Archer has the ability to significantly influence the operations of Harley. The amount allocated to goodwill at January 1, 2020, is
The amount allocated to goodwill at January 1, 2020, is $16,000.
GoodwillFirst step
Book value purchased = (550,000 - 300,000) ×30%
Book value purchased= 250,000 ×30%
Book value purchased= 75,000
Excess=75,000 × 30%
Excess= 25,000
Second step
Allocated to patent= (40,000 - 10,000)×30%
Allocated to patent= 30,000×30%
Allocated to patent= 9,000
Third step
Goodwill = 25,000 - 9,000
Goodwill=$16,000
Therefore the amount allocated to goodwill at January 1, 2020, is $16,000.
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suppose a small economy produces only the three goods listed in the the table above. what is the value of gdp in this economy?
Suppose a small economy produces only the three goods listed in the table below, the value of GDP in this economy is $27,000.
What is GDP?GDP means Gross Domestic Product.
The GDP shows the monetary value of all finished goods and services produced in a country during a specific period.
Data and Calculations:GDP Table
Product Price Quantity Total Value
Shovels $20 40 $800
Books 50 500 $25,000
Pizzas 10 120 $1,200
Total GDP = $27,000
Thus, suppose a small economy produces only the three goods listed in the table below, the value of GDP in this economy is $27,000.
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Which trim level is available exclusively for customers who participate in the 2023 ariya reservation program?.
The PLATINUM+ e-4ORCE is the trim level that is available exclusively for customers who participate in the 2023 Ariya reservation program.
What is the Ariya reservation program?The reservation program is organized by Nissan firm to the public.
In conclusion, the PLATINUM+ e-4ORCE is said to be the trim level that is available exclusively for customers who participate in the 2023 Ariya reservation program.
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Lee Sun's has sales of $3,300, total assets of $3,000, and a profit margin of 6 percent. The firm has a total debt ratio of 42 percent. What is the return on equity
The return on equity is 11.37%.
What does an equity means?The value that would be restored to a company's shareholders if all of its assets were sold and all of its obligations were settled is known as equity. We can also think of equity as the amount of ownership that remains in a company or asset after all debts related to that asset have been paid off.Net income = $3,300 x 0.06 = $198
Total debt ratio = 0.42 = ($3,000 - total equity)/$3,000
Total equity = $1740
Return on equity = $198/$1740
= 0.1137 or 11.37%
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Redmont company's gross salaries and wages are $30,000, and it withholds $4,500 for income taxes and $2,000 for fica taxes, the journal entry to record the employees' pay should include a:
Based on the income taxes and the fica taxes, the journal entry needed to record employees' pay should include a credit to Salaries and Wages Payable for $23,500.
What journal entry would represent the date?An amount will have to be credited to the Salaries and Wages payable account to show that the company owes wages.
The amount is:
= Gross salaries - taxes
= 30,000 - 4,500 - 2,000
= $23,500
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what are letters of reference called
Letters of reference are called letter of recommendation
What are reference letter?Letter of reference is a letter written on behalf of an individual to point out potential and capacity that the person posses.
This can be done former employer for an employee who has worked with him or her.
Therefore, letters of reference are called letter of recommendation.
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A full outer join with the matching rows removed is known as a ______________.
A full outer join with the matching rows removed is known as a UNION JOIN
What is UNION JOIN?Union join is a SQL command used to join matching rows data analysis. it is an important query used to locate and join matching rows in a given raw data.
This operator is crucial because it helps removes any duplicates present in the results being combined.
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friedman and phelps suggested that there should not be a stable relationship between inflation and unemployment, but there should be a stable relationship between:
Friedman and Phelps suggested that there should not be a stable relationship between inflation and unemployment, but there should be a stable relationship between: unanticipated inflation and cyclical unemployment.
What is inflation?
This is the time in the government or the economy of a nation where they are faced with the rise in the prices of goods and services.
This may cause people to lose their jobs and also cause people to buy less of goods and services.
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The change in the quantity of a good, service, or resource that consumers, firms, and governments are willing and able to buy due to a change in its price is called:
The change in the quantity of a good, service, or resource that consumers, firms, and governments are willing and able to buy due to a change in its price is called a Shift in Demand.
Shift in DemandWhen a fundamental driver of demand changes, the location of the demand curve will move to the left or right.The demand curve shifts to the right to indicate increases in demand. A rise in income, an increase in the cost of a substitute, or a decrease in the cost of a complement could all contribute to this.An increase in the quantity needed at every price results from a movement in demand to the right. For instance, if drinking coke gets more popular, demand will rise regardless of price.
Hence, the change in the quantity of a good, service, or resource that consumers, firms, and governments are willing and able to buy due to a change in its price is called a Shift in Demand.
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an economic policy maker would rank a _____ shock as the least preferred type. a. positive demand b. negative demand c. positive supply d. negative supply
The negative supply shock would most likely be ranked as the least preferred type by an economic policy maker.
What is a negative supply shock?It refers to a change in supply which resulted to a decreases output causing prices to increase.
Among other supply shock, this is least preferred type of supply shock by an economic policy maker.
Therefore, the Option D is correct.
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Suppose your main competitor has just introduced a new technology by which customers are really delighted about that technology. the customers are increasing substantially after introducing that new technology in the market. as a top-level manager, what should you do at this moment for your organization?
As a top-level manager of the organization, the duty of the manager is to come up with a business strategy that can be effectively applied to the situation so that it works in favor of the organization.
How a company can conquer technological challenges?Sustaining in the market by lowing the prices of the products.Introducing discounts and combo offers to attract customers.Creating better customer-business relationships so that a business rapport can be built.Working with the team, brainstorming some ideas which can bring positive results for the organization with the existing products available in the market.Thus, these are some of the ways a manager can adapt to survive through a technological threat.
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The essence of a broad differentiation strategy is to a. appeal to the high-end part of the market and concentrate on providing a top-of-the-line product to consumers. b. incorporate a greater number of differentiating features into its product/service than rivals. c. lower buyer switching costs. d. outspend rivals on advertising and promotion in order to inform and convince buyers of the value of its differentiating attributes. e. offer unique product attributes in ways that are valuable and appealing and that buyers consider the cost worth it.
The essence of a broad differentiation strategy is to e. offer unique product attributes in ways that are valuable and appealing and that buyers consider the cost worth it.
What is differentiation strategy?A differentiation strategy can be regarded as a approach businesses which is used in making the product of a company to be unique to have upper hand on the competitors.
It should be noted that differentiation strategy increase comparative advantages.
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Since most data for a given market study is not readily available, analysts must be creative in their use of data that they are able to obtain. The primary source for detailed household demographic information is:
The primary source for detailed household demographic information is The U.S Bureau of the Census
What is a Census?This refers to the count of people in a given geographical area and is usually done country-wide to find out the population.
Hence, we can see that since most data for a given market study is not readily available, the primary source that can be used to get household demographics is the U.S Bureau of the Census
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In cities where people typically go to retire, there tends to be larger markets for Viagra. Nancy, a Viagra saleswoman, recently moved from Park City Utah (an amazing place to retire) to Florida (another common place to retire) simply because of its warmer climate and will need to spend some time looking for a new job at one of the many Viagra sales firms in Florida. Nancy would be considered:
Nancy, who was a Viagra saleswoman in Utah before moving to Florida, would be considered frictionally unemployed.
What is frictional unemployment?Frictional unemployment exists in a situation when a person could be gainfully employed but decides to seek employment elsewhere.
The movement from employed status to seeking employment creates frictional unemployment.
Thus, Nancy, who was a Viagra saleswoman in Utah before moving to Florida, would be considered frictionally unemployed.
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If a test is being used to make a dichotomous decision (e. G. , suitable or unsuitable for the job), the _____ marks the point of decision
If a test is being used to make a dichotomous decision (e. G. , suitable or unsuitable for the job), the cutting marks the point of decision.
What is the usefulness of cut off mark in a test?cut off mark in a test is been used in the selection process after the test which is very important in the point of decision.
And this will be necessary to get the good hand for the job when the test is being used to make a dichotomous decision.
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If you have an orientation where you read manuals and fill out paperwork, it is probably a _____. a. new hire orientation b. interactive orientation c. reorientation d. mentorship please select the best answer from the choices provided a b c d
If you have an orientation where you read manuals and fill out paperwork, it is probably new hire orientation. Thus option A is correct.
What is orientation?The process of acclimating freshly hired personnel to their new office is called orientation. It gives staff members the fundamental organizational knowledge they require to feel ready for their new workgroup, division, and job within the company.
As there will be new people or employees who will be coming to get the job. So it will be a necessity to give them information about the company.
Also what will be their job or what are the rules and regulations is to be told to the employees. Therefore, option A is the correct option.
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Increased flexibility in scheduling has become an important benefit for employers to offer because of: multiple select question. the increase in two-income families employer tax deductions the increase in single parent homes the increase in the birth rate
The Increased flexibility in scheduling has become an important benefit for employers to offer because of increase in single parent homes and the increase in two-income families.
What is the meaning of Scheduling ?
In a production process or manufacturing process, scheduling is the process of organizing, managing, and optimizing work and workloads.
Scheduling is used to distribute resources for equipment and buildings, prepare for human resources, organize work processes, and buy goods.
The flexible schedule must be prepared for the single parent homes and also for the two income families by the employers.
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Answer:
1. The increase in two-income families
2. The preferences of Gen X and Milennial workers
Explanation:
Scarcity exists when there are _______ resources available to satisfy all the competing uses.
kentucky licensee giana manages three star realty’s main office. she’s in charge of training and mentoring the firm’s staff. what kind of licensee is she?
Giana who is in charge of training and mentoring the firm’s staff is a:
Principal BrokerWho is a Principal Broker?A principal broker is found in many real estate offices. The role of these brokers is to ensure that all the staff and their methods of engagement are in agreement with the proscribed laws of the nation and state.
Since Giana has to train and mentor the firm's staff to conform to agreed standards, she can be referred to as a Principal Broker.
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for a monopolist: a. price equals average total cost. b. price is above marginal revenue. c. marginal revenue equals zero. d. marginal cost equals zero. e. average total cost equals marginal cost.
For a monopolist b. price is above marginal revenue.
What Is Marginal Revenue?Marginal revenue can be regarded as increase in revenue which is been gotten from the sale of one additional unit of output.
As a monopolist that is the the only seller in the market, then their marginal revenue is usually above price because they don't have a competitor that is close enough.
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Mary is preparing a purchase offer for her buyer client. It's a fairly standard offer: a little less than list price, with the seller paying a little toward the buyer's closing costs. Mary fills in the blanks on a standard form used in her brokerage firm based on the current situation. Is this okay
Answer:
I think that Mary is doing right
Yes, Mary can use the standard forms that her brokerage uses (assuming these forms were originally created or approved by an attorney). Thus option D is correct.
What is list price?The price of a good or service that is mentioned or recorded is called the list price. In a seller's pamphlets of sales literature, list prices are provided. To fix the prices that merchants charge for a vendor's items, a list price is published.
A form of money down known as a mortgagee mortgage involves the buyer lending the seller a note. It is applied to the purchase's total cost. If the standard forms used by Mary's firm were initially drafted or cleared by an attorney, she may use them.
The attempt to purchase would become a contract and when both parties have signed it and any subsequently is must or amendments have been accepted. Therefore, option D is the correct option.
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The question is incomplete, the complete question will be :
Mary is preparing a purchase offer for her buyer client. It's a pretty standard offer: a little below list price, with the seller paying a little toward the buyer's closing costs. Mary fills in the blanks on a standard form used in her brokerage firm based on the current situation. Is this okay?
A. No, Mary is not an attorney and shouldn't prepare contracts.
B. No, Mary should have her client prepare the offer.
C. No, Mary should hire an attorney to prepare the purchase offer.
D.Yes, Mary can use the standard forms that her brokerage uses (assuming these forms were originally created or approved by an attorney).
A company purchased new equipment for $52,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $2,600; sales tax paid $2,900; and installation cost, $3,100. The cost recorded for the equipment was:
The cost at which the purchased equipment is being recorded but ignoring the sales tax is equivalent to $57,700.
What is the purchase cost?Purchase cost is the value at which the fixed asset is acquired by the company along with other related expenditures.
The purchase cost of equipment can be determined as follows:
Type of costs Amount
1) Purchase cost $52,000
2) Cost of installation 3,100
3) Cost of transportation 2,600
Total costs $57,700
Therefore, $57,700 is the total cost of the equipment being acquired by a company except for the sales tax amount which is being paid by the sellers.
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Savion is restoring a car and has already spent $4,000 on the restoration. He expects to be able to sell the car for $5800. Savion discovers that he needs to do an additional $2,400 of work to make the car worth $5,800 to potential buyers. He could also sell the car now, without completing the additional work, for $3,800. What should he do?.
Based on the selling price of the car and the cost to work on it, Savion should sell the car now for $3,800.
Why should Savion sell the car?The profit if he works on the car is:
= Selling price - Addtional work cost
= 5,800 - 2,400
= $3,400
The profit from selling the car is $3,800 which is more than the profit if additional work is done of $3,400.
The $4,000 is irrelevant as it is a sunk cost.
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In general, the short-run economic framework deals with issues of:
In general, the short-run economic framework deals with issues of aggregate demand.
What is aggregate demand?Aggregate demand measures the total demand of a particular goods or services.
This can be done for a given time and product to determine the stable products.
Therefore, In general, the short-run economic framework deals with issues of aggregate demand.
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