Explanation:
In this case, the ideal would first be to be cordial with the customer, apologize for what happened and look for solutions that make the customer feel that the establishment is concerned with offering quality service.
Therefore, the attendant must readily be willing to exchange the cold food received and offer some courtesy to compensate for the problem, such as offering a free drink or a discount for the next trip to the restaurant.
That way, the customer will be able to understand what failures can happen, but how the restaurant deals with them is what makes the difference, and then feel satisfied with the solution to their problem and return to the restaurant to get a better experience.
Savannah Pecans is a fourth-generation family business. The company has concentrated on the U.S. market by selling its products primarily in the United States but now wants to sell abroad. The board of directors is hesitant about new markets because of their lack of knowledge regarding foreign legal systems and languages. What is the likely reason behind this hesitation
Answer:
A. a lack of trust
Explanation:
Since in the question it is mentioned that the Savannah Pecans is a fourth-generation family business and wants to focused on the U.S market by selling their main products in the U.S markets but as of now they wants to sell in abroad.
But the board of directors is hesitant because of their lack of knowledge with respect to the legal, language system
So the reason is a lack of trust whether they manage the things properly or not
The market structure in which the behavior of any given firm depends on the behavior of the other firms in the industry is
Answer:
Oligopoly.
Explanation:
The market structure in which the behavior of any given firm depends on the behavior of the other firms in the industry is oligopoly.
An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.
Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.
The characteristics of an oligopolistic market structure are;
1. Mutual interdependence between the firms.
2. Market control by many small firms.
3. Difficult entry to new firms.
A diverse team will almost always have _____ than a homogeneous team. more extensive external contacts lesser cognitive resources more rigid standards narrower vision
Answer: more extensive external contacts
Explanation:
Team diversity has to do with the differences that the members of a particular team have. Such differences can be due to religion, nationality, age etc. .
It should be noted that diverse team will almost always have more extensive external contacts than a homogeneous team.
For a perfectly competitive market to function properly, which of the following must buyers and sellers have access to?
Sufficient technology
Uncompetitive products
Economies of scale
Adequate information
Answer:
Adequate information
Explanation:
Both the buyers and sellers must have access to adequate information. Information are both vital for both the buyers and sellers. For the buyer, it influences their decision making and buying choice. For the seller, it helps them to know the trending buyer need. Hence, for a perfectly competitive market to function well, the buyer and seller must have access to adequate information.
People have unlimited desires but limited resources. Economics tries to understand how we make decisions in such a world of ______ resources.
Answer:
Scarcity, is the right answer.
Explanation:
Scarcity is the answer because economics refers to decision making when there is scarcity. Since we know that human wants are unlimited but the resources are limited. Thus, the scarcity of resources gives birth to the problem of choice. Basically, economics studies the social human behavior in relation to resource allocation. Therefore, economics is all about that is generated to understand the allocation or decisions in the case of scarce resources.
Consider four types of markets: monopoly, perfect competition, oligopoly, and monopolistic competition. If they were ranked from the lowest number of firms to the largest number of firms the ranking would
Answer:
Monopoly
Oligopoly
monopolistic competition
Perfect competition
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
examples of monopolistic competition are restaurants
A monopoly is when there is only one firm operating in an industry. there is usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is an utility company
An oligopoly is when there are few large firms operating in an industry. there is high barriers to entry and exit of firms
Red Co. reported cash paid for interest of $55,000 in its statement of cash flows for the current year. Red did not capitalize any interest during the current year. The following changes on their balance sheet occurred: accrued interest payable decreased by $13,000 along with a decrease in prepaid interest of $21,500. What amount should Red report as interest expense in its current year statement of income
Answer:
$63,500
Explanation:
Interest expense paid in cash $55000
Less: Adjusted for accrued interest $13,000
payable
Add: prepaid interest adjusted $21,500
Interest expense in its current year $63,500
statement of income
At the end of Year 2, retained earnings for the Baker Company was $2,650. Revenue earned by the company in Year 2 was $2,900, expenses paid during the period were $1,550, and dividends paid during the period were $950. Based on this information alone, what was the amount of retained earnings at the beginning of Year 2
Answer:
$2,250
Explanation:
Calculation for the amount of retained earnings at the beginning of Year 2
Using this formula
Beginning retained earning =Revenue earned- Expensee- Dividend Paid- Ending retained earnings
Let plug in the formula
Beginning retained earning =$2,900-$1,550-$950-$2,650
Beginning retained earning =$2,250
Therefore the amount of retained earnings at the beginning of Year 2 will be $2,250
What is likely to happen to the labor market equilibrium for firemen as building codes change to require firewalls and sprinklers to be included in all new construction
Answer:
The number of firemen employed will decrease while the wage of firemen will decrease
Explanation:
In an economy when there is an alternative or substitute that enters the market it results in reduction of demand for that product because some consumers will go for the other good.
In this scenario where building codes change to require firewalls and sprinklers to be included in all new construction, there will be a reduction in the demand for firemen. So number of firemen employed will be less.
This is because there is an alternative to using firemen now (firewalls and sprinklers).
Supply of firemen will remain the same, so more people are now competing for less jobs.
They will be more willing to take less wages than before so wages will reduce.
Stock in Daenerys Industries has a beta of 1.2. The market risk premium is 6 percent, and T-bills are currently yielding 4.9 percent. The company’s most recent dividend was $1.30 per share, and dividends are expected to grow at an annual rate of 8 percent indefinitely. If the stock sells for $36 per share, what is your best estimate of the company’s cost of equity?
Answer:
The best estimate of the company’s cost of equity is 12%
Explanation:
Estimate of the company’s cost of equity = (Required Return as per Capital Asset Pricing Model + Cost of Equity) / 2
Required Return as per Capital Asset Pricing Model = Risk Free rate + Market Risk Premium * Beta
= 4.9 % + ( 6% * 1.2)
= 0.049 + 0.06 * 1.2
= 0.049 + 0.072
= 0.1210
= 12.10%
Cost of Equity = (Expected Dividend/Price) + Growth Rate
= [( $ 1.30 * 1.08) / $ 36] + 8%
= 0.039 + 0.08
= 0.1190
= 11.90%
The best estimate of the company’s cost of equity = (12.10 % + 11.90 % )/ 2
= 24% / 2
= 12%
Hence, the best estimate of the company’s cost of equity is 12%
There are two main ways to measure social inequality, they are: Inequality of conditions refers to the unequal distribution of income, wealth, and material goods. Inequality of opportunities refers to the unequal distribution of life chances across individuals.
Answer:
True.
Explanation:
Social inequality can be defined as an existence of unequal rewards and opportunities for different social status or classes within a group of people in a society.
Generally, social inequality is peculiar to a society that is grouped based on race, hierarchy of class, religion, culture and gender. A social inequality is characterized by unequal distribution of wealth, punishment, rewards, opportunities and goods or services to the various classes.
There are two main ways to measure social inequality, they are:
1. Inequality of conditions: refers to the unequal distribution of income, wealth, and material goods.
2. Inequality of opportunities: refers to the unequal distribution of life chances across individuals.
The international marketing manager of an office furniture company ordered a research report on global telecommunications equipment sales. The report noted that, in the early 1990s, AT
Answer:
The remaining part of the question is:
The report noted that, in the early 1990s, AT&T was awarded a $4 billion contract to provide communication network products and services in Saudi Arabia. The manager took this as a cue to put Saudi Arabia on her information agenda, reasoning that office furniture sales would increase as the country's telephone system was improved. As described here the marketing manager is viewing Saudi Arabia as a(n):
Correct Answer:
Incipient market
Explanation:
Incipient Market is the type of market where export firms can use market research to know the trends and preferences that indicate emergence of future markets. And, also, with solid efforts, export firms can create potential markets and gradually convert these into existing markets. Currently, incipient market does not exist.
In most transactions, the buyer is accepting the condition of the property at what point in time:_________
a. At closing
b. At the signing of the contract
c. 30 days after closing
d. At the time of the first viewing
Answer:
b. At the signing of the contract
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent and it is at this point they (buyer and seller) sign the contract. Therefore, mutual assent connotes agreement, acceptance and consent to a contract by both parties.
Hence, in most transactions, the buyer is accepting the condition of the property at the signing of the contract as an approval or consent to the terms and conditions.
Han Products manufactures 37000 units of part S-6 each year for use on its production line. A this level of activity, the ost per unit for part S-6 is:
Direct materials $3.60
Direct labor 9.00
Variable manufacturing overhead 2.40
Fixed manufacturing overhead 6.00
Total cost per part $21
An outside supplier has offered to sell 37,000 units of part S-6 each year to Han Products for $19 per part. If Han Products accepts this offer, the facilities now being used to manufacture part S-6 could be rented to another company at an annual rental of $87,000. However, Han Products has determined that two-thirds of the fixed manufacturing overhead being applied to part S-6 would continue even if part S-6 were purchased from the outside supplier.
Required:
What is the financial advantage (disadvantage) of accepting the outside supplier's offer?
Answer:
$13,000
Explanation:
The computation of the financial advantage (disadvantage) of accepting the outside supplier's offer is given below:
Making cost
Materials (37,000 × $3.60) $133,200
Direct Labour (37,000 × $9.00) $333,000
Overhead:
Variable (37,000 × $2.40) $88,800
Fixed (37000 × 6.00) $222,000
Total making cost $777,000
For buying cost
outside market purchase (37,000 × 19.00) $703,000
Unavoidable fixed overheads (37000 × 6 × 2÷3) $148,000
Less: Rentout of resources ($87,000)
Total Cost if buy $764,000
So, the Financial advantage of accepting the outside suppliers offer is
= $777,000 - $764,000
= $13,000
Charlie, a production head at an automobile company, is reviewing along with his team the efficiency of the current production system. A few employees in his team have ideas about how the production cost can be reduced by modifying the assembly system. Which of the following statements made by Charlie would best act as an idea grower in this scenario? If the system is not broken, we do not have to fix it. The current production system is good enough. Though the current system is efficient, is it perfect? You may want to change the current system, but what about the costs?
Answer:
Though the current system is efficient, is it perfect
Explanation:
An idea grower is someone that is open to analyzing different ideas, possibilities, or options on how to improve the current production system. I'm not sure if anything can be considered to be perfect, since we all have flaws, and the things that we make all have flaws. The difference is that things or systems are those that have the least amount of flaws and work almost efficiently most of the time.
In this case, the production system might be very efficient, but it can always be improved. It is charlie's duty to try to find ways to continuously improve it.
To develop _____ plans, managers identify important factors in the environment, such as possible economic downturns, declining markets, increases in cost of supplies, new technological developments, or safety accidents.
Answer: contingency
Explanation: Managers must identify important factors in the environment in order to develop contingency plans. Some of these factors that might affect the business or an organization as the case maybe would include possible economic downturns, declining markets, increases in cost of supplies, new technological developments, or safety accidents. Contingency plans are alternative plans to be put into operation if needed, especially in case of emergencies, or if a primary plan fails.
How does the concept of scarcity affect economic decision making?
Answer:
The ability to make decisions comes with a limited capacity. The scarcity state depletes this finite capacity of decision-making. ... The scarcity of money affects the decision to spend that money on the urgent needs while ignoring the other important things which comes with a burden of future cost.
The monopolist has total fixed costs of $40 and a constant marginal cost of $5. At the profit-maximizing level of output, the monopolist's profit is
Answer:
$8.
Explanation:
Calculation for the the monopolist's profit
Using this formula
Monopolist's profit =Fixed costs/Constant marginal cost
Let plug in the formula
Monopolist's profit=$40/$5
Monopolist's profit=$8
Therefore the Monopolist's profit will be $8
The monopolist's profit is the amount of earnings left by the monopolist by the business operations. In the context of economics, a monopoly is the type of firm that stands alone in the market and does not have any competitors for the same product.
The monopolist is like government entities such as railway services, life insurance services, and many more.
The monopolist's profit is $8.
Computation:
Given,
Fixed cost =$40
Constant marginal cost =$5
The given components will be simply used in the formula to determine the monopolists' profit.
[tex]\rm{Monopolist's\;profit}=\dfrac{Fixed\;cost}{Constant\;marginal\;cost}\\\\=\dfrac{\$40}{\$5}\\\\=\$8[/tex]
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You need $35,000 in cash to buy a car 15 years from today. You expect to earn 14 percent, compounded annually, on your savings. How much do you need to deposit today if this is the only money you save for this purpose
Answer:
PV= $4,903.38
Explanation:
Giving the following information:
FV= $35,000
n= 15 years
i= 14% compounded annually
To calculate the initial investment required, we need to use the following formula:
PV= FV/(1+i)^n
PV= present value
FV= future value
i= interest rate
n= number of years
PV= 35,000/(1.14^15)
PV= $4,903.38
you recently finished an essay on the milky way galaxy in google docs, but you can’t locate the file anywhere on your Google Drive. What should you do?
Answer:
Google docs
Explanation:
Have you checked your files on your google docs or if they aren't there try searching for them on your phone.
Answer:
In Google Drive, enter a keyword in the search bar and press Enter. A list of files and folders matching your keyword search appears.
Select a folder or any type of file. ...
You can also select a folder or a Google file, right-click and select Show file location
Renee opened her business with the intention of importing goods from Brazil and selling them in the United States. We could say that this business is
Answer: Born global
Explanation:
Born global is described as businesses which start with the intention of main their business already an international, as they target to do business globally. Many organizations start up their activities with the intentions of doing business globally, they focus their market to the world at large than just doing trade locally.
Common practices of ________ include exploiting the distinctive economic assets of different countries and regions, organizing production according to a spatial division of labor, placing earnings in offshore bank accounts to avoid paying taxes, and moving factories from high wage regions to low wage regions. *
Answer:
Transnational corporations.
Explanation:
A transnational corporation can be defined as a formal company or business enterprise that has its headquarter in its home country and operate subsidiaries which are partially or wholly owned by it, in other countries across the world.
A transnational corporation must have at least one (1) subsidiary in another country or must have its operations in at least two (2) countries.
Common practices of transnational corporations include exploiting the distinctive economic assets of different countries and regions, organizing production according to a spatial division of labor, placing earnings in offshore bank accounts to avoid paying taxes, and moving factories from high wage regions to low wage regions.
Some examples of transnational corporations are Nestle, McDonalds, Unilever, Shell, Mtn, etc.
Helen is considering adding a rack of greeting cards to her product offerings at Litton Books Unlimited. Her fixed costs associated with adding the greeting cards would be $300. Variable costs per card are $1 each. The greeting cards will sell for $2 each. Helen's break-even point would occur at ________ cards sold.
Answer:
the break even point is 300 cards sold
Explanation:
The computation of the break even point in units is shown below:
= Fixed cost incurred ÷ contribution margin per unit
= $300 ÷ ($2 - $1)
= $300 ÷ ($1)
= 300 cards sold
As we know that the contribution margin per unit is
= Selling price per unit - variable cost per unit
And, the same is to be followed
Hence, the break even point is 300 cards sold
Helen's break-even point would occur at 300 cards sold.
Break even point= Fixed cost ÷ Contribution margin per unit
Where:
Fixed cost=$300
Contribution margin per unit=$2-$1
Let plug in the formula
Break even point= $300/($2-$1)
Break even point= $300/$1
Break even point= 300 cards
Inconclusion Helen's break-even point would occur at 300 cards sold.
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The city has proposed a number of water treatment and conservation projects the cost of which raises water bills high enough so that even environmentalists are beginning to raise alarms.
a. the cost of which raises water bills high enough so that.
b. at a cost raising water bills so high that.
c. at a cost which raises water bills high enough so.
d. whose cost will raise water bills so high that.
e. whose cost will raise water bills high enough so that.
Answer:
b. at a cost raising water bills so high that.
Explanation:
From the description of the sentence, it shows that the action when performed would yield the observed outcome. The cost of the project which would result to an exorbitant rise of water bills has to be questioned.
Thus the most suitable option is b, so that the correct expression would be;
The city has proposed a number of water treatment and conservation projects at a cost raising water bills so high that even environmentalists are beginning to raise alarms.
The most important, most convenient, and most flexible way in which the Federal Reserve affects the supply of bank reserves is through:
Answer: open market operations
Explanation:
When the marginal benefits of a decision is equal to the marginal costs, it is called _____________. (SSEF2) * 1 point equilibrium scarcity specialization a rational decision
Answer:
A rational decision
Explanation:
Marginal decision involves using more than or less than what you have by comparing the cost and benefits. Marginal cost is the additional cost as a result of making a different decision while the marginal benefit is the additional benefit as a result of making a different choice. A rational decision is a decision in which the marginal benefits as a result of taking that decision is greater or equal to the marginal cost of that decision.
A single-phase queuing system in which each arriving customer will be served by a three-member crew has four crews with three members each. The number of "servers" is
Answer:
The number of "servers" is 12.
Explanation:
This is because, for a customer to be served by 1 3-member crew, it shows that, there a 3 servers. But, this crew of 3 servers is divided into 4 different group (4-crews), hence, the total number of servers = 12.
it is necessary for aquasona inc a company that packages drinking water to regualry change in operational planning. the managers of the company typcially do the planning are _____ managers.
Answer: first line managers
Explanation:
First-line managers are the managers who are usually closest to the employees of an organization as they are at the management's entry level. It should be noted that they are responsible for ensuring that the objectives of an organization are achieved.
With the above explanation, the answer to the question is first line managers.
The mayor of Newton is considering proposals to deal with an unsafe intersection. She could install a traffic light at a cost of $50,000 or she could install stop signs at a cost of $5,000. The traffic light is expected to reduce the risk of fatality by 0.45 percent and the stop signs are expected to reduce the risk of fatality by 0.054 percent. If the value of human life is estimated to be $10 million, what choice should the mayor make? Briefly explain.
Answer:
Install stop signs
Explanation:
It is observed through workings that the benefits of installing traffic signals are less than the cost of installation and the benefit of installing stop signs exceeds the cost of installing them, therefore it will be wise for Mayor to install stop signs rather than ls signals.
DATA
Value of human life = $10 million
Cost of installing traffic signal = $50,000
Cost of installing stop signs = $5,000
Workings
Benefit ofinstalling traffic signal = 0.45% * $10 million
Benefit ofinstalling traffic signal = $45,000
Benefit from installing stop signs = 0.054% * $10 million
Benefit from installing stop signs = $5,400
When an employee's personal values are inconsistent with the configuration of values held by the work group, the employee might experience:_________
Answer:
Ethical conflict.
Explanation:
When an employee's personal values are inconsistent with the configuration of values held by the work group, the employee might experience an ethical conflict. This ultimately implies that, if the personal values, beliefs, ideals, of an employee is not in tandem with that of his or her work group (team members), then there's most likely to be an ethical conflict which would be experienced by such an employee.
For example, an employee is asked to lie about a fraud committed by his or her superior.