a) Convenience products are typically found in stores like convenience stores and supermarkets near the checkout area for impulse buys. b) Shopping products are available in department stores where customers can compare similar items. c) Specialty products are found in specialty stores or high-end department stores and feature unique characteristics or brand identification. d) Unsought products are sold through direct marketing or specialized stores.
Products in stores can generally be classified into four categories: convenience products, shopping products, specialty products, and unsought products. Each type of product is typically found in different locations within various retail environments due to their differing nature and consumer buying habits.
a) Convenience Products
Convenience products are those that are bought often, immediately, and with minimal comparison and buying effort. These items are usually found in convenience stores, supermarkets, drug stores, and gas stations. Examples include snacks, beverages, and toiletries. Because they are often impulse buys, they might be placed near the checkout area or in locations that are easily accessible and highly visible to the customers.
b) Shopping Products
Shopping products are less frequently purchased and customers often compare them on suitability, quality, price, and style. These items can be found in department stores, specialty chains, and electronics retailers. Stores may organize shopping products by category, such as apparel, electronics, or home furnishings, allowing customers to compare similar items.
c) Specialty Products
Specialty products are unique and consumers will make a special effort to search for and buy these products. These items typically have brand identification or unique features and are found in specialty stores or high-end department stores. The stores that carry specialty products might customize their inventories to match regional tastes or offer a broad range of products to cater to the specific desires of their customers.
d) Unsought Products
Unsought products are not well known to consumers or are products that consumers do not normally think of buying, such as life insurance or funeral services. These products can be sold through direct mail, sales visits, or specialty stores that focus on particular unsought products.
When heavy rain ruined the banana crop in central america, the price of bananas rose from $1.00 a pound to $2.00 a pound. growers sold fewer bananas, but their total revenue remained unchanged. the quantity of bananas ▼ decreased increased by nothing percent. >>> answer with a whole number?
The quantity of bananas decreased by 50 percent due to the doubling of the price, under the condition that total revenue remained unchanged.
The question presented revolves around the concept of elasticity of demand in economics which is a measure of how much the quantity demanded of a good responds to a change in the price of that good. The original scenario describes a situation where heavy rain damaged the banana crop in Central America leading to a price increase from $1.00 to $2.00 per pound. Despite the higher prices, growers' total revenue did not change. We can use the given information to determine the percentage change in quantity demanded.
Calculating the percentage change in quantity demanded requires two bits of information: the initial and final quantities sold. Since total revenue remained unchanged, and total revenue equals price times quantity, we can set up an equation where $1.00 times ext{initial quantity} = $2.00 times ext{final quantity}. The final quantity must be half the initial quantity in order for the revenue to remain constant.
This means the quantity of bananas decreased by 50 percent. Hence the answer to fill in the blank is that the quantity of bananas decreased by 50 percent.
The contribution margin approach helps managers in short-term decision making because it ________
The contribution approach is a presentation format used for calculation of the break-even point, which is the point of zero profit or loss. The contribution margin approach helps managers in short-term decision making because it reports costs and revenues at present value.
Why is seasonal inventory usually built up in periods of low demands?
A __________________ exists when the quantity demanded in the market is less than the quantity at the bottom of the long-run average cost curve. natural monopoly monopoly oligopoly monopolistic competition
A model of sea ice coverage is made with sketches and diagrams. it shows that ice cover increased in the antarctic and decreased in the arctic from june to july. what type of model is this?
This would be a conceptual model.
Answer:
Conceptual model.
Explanation:
The above question shows an example of a conceptual model, as it exposes factual information related to an environment common to the individual.
Conceptual modeling is the most natural form of fact and is closer to the reality of the customer environment. In the conceptual model the client should be involved in order to obtain the data that will support the construction of the whole model.
which of the following is a depository financial institution? a) investment bank b) online bank. c) life insurance company. d) FDIC
The correct answer is b) online bank, as it is a depository institution that accepts money deposits and uses them to make loans, offering services akin to traditional banks albeit through a digital interface.
Explanation:The question asks to identify which option is a depository financial institution. A depository institution is one that accepts money deposits and then uses these deposits to make loans. The options provided are: a) investment bank, b) online bank, c) life insurance company, and d) FDIC.
Among the choices, the correct answer is b) online bank. Online banks operate similarly to their brick-and-mortar counterparts by offering services such as checking accounts, savings accounts, and the ability to make deposits and withdrawals, thereby fulfilling the role of a depository institution. While investment banks focus mainly on providing services that help companies and governments raise capital, life insurance companies manage policies and investments related to life insurance, and the FDIC (Federal Deposit Insurance Corporation) is not a bank itself, but an agency that insures deposits in member banks.
It is important to note that under the FDIC, banks purchase insurance to protect against the risk of bank failure, guaranteeing that depositors will receive up to $250,000 of their money in each account should the bank fail. This helps maintain stability and trust in the banking system.
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The annual demand is 8,000 units, the cost to place an order is $50, and the holding cost for each assembly is $20 per year. the company operates 250 days per year. the manager decides to placed every three months, or four times per year. how much does this approach cost in total annual holding and ordering costs (instead of using the eoq quantity)?
Before the Internet was available, people often searched for jobs _____.
What is the value in year 7 of a 2700 cash flow made in year 8?
The value in year 7 of a $2,700 cash flow made in year 8 when interest rates are 11.8 percent is $2,415.03. The correct answer is option: D) $2,415.03
To find the value in year 7 of a $2,700 cash flow made in year 8 when interest rates are 11.8 percent, we need to discount the cash flow back one year.
The formula to discount a future cash flow to its present value is:
[tex]PV=\frac{FV}{(1+r)^{n} }[/tex]
Where,
PV is the present value (value in year 7).FV is the future value ($2,700 in year 8).r is the interest rate (11.8% or 0.118).n is the number of periods (1 year).Let's calculate it:
[tex]PV=\frac{2700}{(1+0.118)^{1} }[/tex]
[tex]PV=\frac{2700}{1.118} }[/tex]
[tex]PV=2,415.03[/tex]
Therefore, the value in year 7 of a $2,700 cash flow made in year 8 when interest rates are 11.8 percent is $2,415.03.
The complete question is:
Moving Cash Flows What is the value in year 7 of a $2,700 cash flow made in year 8 when interest rates are 11.8 percent?
A) $2,381.40
B) $1,236.72
C) $1,106.19
D) $2,415.03
Galen went to the supermarket to buy rice and soda.
C. The batteries and newspaper were impulse purchaces. An impulse purchase is defined as a purchase that was not intended from the beginning but on impulse, it was purchased. In this case it was the batteries and newspaper because Galen noticed this when he was in line waiting to check out for the items he actually needed when he went to the store.
The fisher effect predicts that an increase in expected inflation will lower the interest rate on bonds. true false
An investment paid to you in one year in the amount of $100 will be worth how much today
use FV = PV (1+ i)^N and the answer is 85
use PV = FV/(1+r) and the answer is about 90.91
use FV = PV(1 + i)^N and the answer is 90
use PV =FV(1+r) and the answer is about 109.91
What is meant by saying that economics is an empirical science?
a. economic theories will be tested by seeing how well they correspond to real-world phenomena.
b. economic theories cannot be tested because there is no means of measuring economic variables with adequate precision.
c. economic theories will be tested by seeing how well they correspond to people's declared preferences.
d. economic theories cannot be tested because economic variables change too quickly?
Arianne has a passion for designing clothes and decides to open her own clothing store. she starts it by taking personal loans from family and friends, and hires a few people to run the store she maintains a tight control over costs as she does not want to incur further debts. arianne's store is an example of a
Arianne's store is an example of Sole Proprietorship.
Sole Proprietorship is a business that is solely run by one person who is the owner of the company. He is responsible for all the liabilities of the company, yet the receiver of profits solely. The person who starts the business hires his team and get the activities of the business done by them with him. He is the one liable/receiver of all losses and profits.
In this example, Arianne is the owner of the business who hires employees to run her business. She is the Sole Proprietor.
If automakers used ___________ segmentation, they would use vehicle features such as the availability of a moon roof and bluetooth capability to find customers similar to justin.
You want to exchange 10,000 euros for russian rubles as your travel from paris, france to st. petersburg, russia. the spot rate on the dollar/euro cross rate is $1.1878/€ and the spot rate on the ruble/dollar cross rate is rbl 57.83/$. how many rubles will you obtain for your euros?
Greta has liability and collision insurance, but no comprehensive insurance on her 2009 Honda Accord. One night, it is stolen from the parking space outside her condo and never recovered by the police. Which of these policies pays her for the value of her vehicle so she can get another one?
Final answer:
Greta will not receive compensation for the value of her vehicle through her insurance policies and may have to explore other avenues for recovering the value of her vehicle.
Explanation:
If Greta's 2009 Honda Accord is stolen and she does not have comprehensive insurance, her collision insurance policy will not cover the theft.
Liability insurance only covers damage to other vehicles or property if Greta is at fault in an accident. Collision insurance covers repairs or replacement of Greta's own vehicle if it is damaged in an accident, but it does not cover theft.
Therefore, in this scenario, Greta will not receive compensation for the value of her vehicle through her insurance policies. She may have to explore other avenues, such as filing a police report and contacting law enforcement and her local authorities.
Bird's eye treehouses, inc., a kentucky company, has determined that a majority of its customers are located in the pennsylvania area. it therefore is considering using a lockbox system offered by a bank located in pittsburgh. the bank has estimated that use of the system will reduce collection time by 1.5 days. 1. what is the npv of the new lockbox system? suppose in addition to the variable charge that there is an annual fixed charge of $5,000 to be paid at the end of each year. 2. what is the npv now?
a. NPV of new lockbox system: $1,310,714.29.
b. NPV with additional fixed charge: -$1,246,971.96. Negative NPV suggests potential unviability due to increased fixed cost.
a. To calculate the NPV of the new lockbox system, we need to find the present value of the cash inflows (savings from reduced collection time) and outflows (variable lockbox fee).
First, calculate the annual savings from reduced collection time:
Annual savings = (Average number of payments per day) * (Average value of payment) * (Reduction in collection time)
Annual savings = 870 * $820 * 2 = $1,432,400
Next, calculate the annual variable lockbox fee:
Annual variable lockbox fee = (Average number of payments per day) * (Variable lockbox fee per transaction) * (365 days)
Annual variable lockbox fee = 870 * $0.20 = $174 , $174 * 365 = $63,420
Now, calculate the net annual cash flow:
Net annual cash flow = Annual savings - Annual variable lockbox fee
Net annual cash flow = $1,434,800 - $63,420 = $1,371,380
Finally, calculate the NPV using the formula for NPV:
NPV = Σ(CFt / (1 + r)^t) - Initial investment
Where:
CFt = Net annual cash flow for year t
r = Discount rate (annual interest rate on money market securities)
t = Time period (years)
Let's assume the initial investment is negligible. Using the given annual interest rate of 4.6% (0.046 as a decimal), we can calculate the NPV:
NPV = $1,371,380 / (1 + 0.046)^1 = $1,371,380 / 1.046 ≈ $1,310,714.29
b. Now, with an additional annual fixed charge of $4,000, the net annual cash flow becomes:
Net annual cash flow = Annual savings - Annual variable lockbox fee - Annual fixed charge
Net annual cash flow = $1,371,380 - $63,420 - $4,000 = $1,303,960
Then, we calculate the NPV using the same formula:
NPV = $1,303,960 / (1 + 0.046)^1 = $1,303,960 / 1.046 ≈ $1,246,971.96
Therefore, the NPV with the additional fixed charge is approximately -$1,246,971.96. The negative NPV indicates that the investment may not be economically viable with the added fixed cost.
The complete question is:
Bird's Eye Treehouses, Inc., a Kentucky company, has determined that a majority of its customers are located in the Pennsylvania area. Therefore, it is considering using a lockbox system offered by a bank located in Pittsburgh. The bank has estimated that use of the system will reduce collection time by 2 days. Average number of payments per day 870 Average value of payment $ 820 Variable lockbox fee (per transaction) $ .20 Annual interest rate on money market securities 4.6 % a. What is the NPV of the new lockbox system? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. Suppose in addition to the variable charge that there is an annual fixed charge of $4,000 to be paid at the end of each year. What is the NPV now? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) (please explain)
You are a recent college graduate looking for public relations work. if a high salary is most important to you, which work setting are you most likely to choose?
North slope realty co. pays weekly salaries of $7,900 on friday for a five-day week ending on that day. what is the adjustment at the end of the accounting period, assuming that the period ends (a) on wednesday, (b) on thursday? indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.
Germans have not been overly receptive to the use of credit cards such as visa or mastercard and installment debt to purchase products and services because of a difference in ________ from american consumers.
Final answer:
Germans have been less receptive to credit card usage and installment debt due to differing cultural attitudes compared to American consumers, reflecting a preference for using cash and a cautious approach to debt.
Explanation:
Germans have not been overly receptive to the use of credit cards such as Visa or MasterCard and installment debt to purchase products and services because of a difference in cultural attitudes from American consumers. In America, consumer credit has been widely accepted and integrated into everyday life, with many using credit not only for daily purchases but also to build credit history. However, this acceptance of credit as part of purchasing behavior does not extend uniformly across all cultures or countries.
In Germany, there is a cultural preference toward fiscal conservatism and a tendency to use cash over accruing debt. Historically, Germans have a more cautious approach to debt, often preferring to save and pay outright for purchases rather than relying on credit. This cautious approach can be attributed to a variety of factors including historical economic conditions, attitudes towards savings and debt, and levels of trust in financial institutions.
These differences can also be linked to the level of acculturation among immigrants and their adoption of financial practices in the host country. Immigrant integration into the financial system of a new country can be hindered by a range of barriers such as distrust of banks that are rooted in experiences from their native countries, language obstacles, and unfamiliarity with the new culture's financial norms. This underscores the importance of understanding the cultural context in which financial behavior occurs.
Table 13-5 number of workers output 0 0 1 10,000 2 19,000 3 27,000 4 32,000 5 35,000 6 36,000 refer to table 13-5. assume that fixed costs are $500, and variable costs are $100 per worker. for this firm, what are the shapes of the production function and the total-cost curve?
a. the production function is increasing at an increasing rate, whereas the total-cost function is increasing at a decreasing rate.
b. both the production function and total-cost curve are increasing at an increasing rate.
c. both the production function and total-cost curve are increasing at a decreasing rate.
d. the production function is increasing at a decreasing rate, whereas the total-cost function is increasing at an increasing rate.
a business letter is not written
A. between a company and its customers or clients
B. between one company and another company
C. between two private individuals
D. to employees within a company to recognize important achievements
Answer:
C. between two private individuals
Explanation:
The business letter should always be in a written form. In the business letter, the information is about business activities which could be important for business dealing or any other business purpose.
The information which is mentioned in the business letter is somewhat crucial or we can say business matters and no one wants to disclose it as per the requirements.
It could be either written from a company to its clients, from one company to another company or between the employees who are working in the same company.
But for two private individuals, the business letter could not be written as there is no specific purpose.
According to marx, the best economic system would be one where the means of production and distribution are in the hands of the bourgeoisie.
_____________ have unlimited liability for the actions of the business.
Answer:
General partnership/ sole proprietorship
Explanation:
A business that purchases products in large quantities from producers and then sells it to another entity is known as a _____.
To an economist, scarcity means that:
a. resources are unlimited but people's desires are limited.
b. a good is unavailable even at very high prices.
c. at a zero price, the available quantity of a good is insufficient to meet people's wants.
d. at the current market price, the amount available is less than the amount that people want and are willing to pay for.
e. it is very time-consuming to find a good.
To an economist, scarcity means that at a zero price, the quantity of a good available is insufficient to satisfy everyone's wants, which is option c.
To an economist, scarcity means that at a zero price, the available quantity of a good is insufficient to meet people's wants. Therefore, the correct answer to the student's question is: c. at a zero price, the available quantity of a good is insufficient to meet people's wants.
Scarcity is a fundamental concept in economics that arises because human wants for goods and services exceed the available supply. Supply is limited due to the limited availability of resources, while demand is virtually unlimited. No matter the supply, it seems inherent in human nature to desire more, which forces us to make decisions and to choose between alternatives. This condition of scarcity impacts all aspects of economic decision making.
For instance, consider a parcel of land with various potential uses. If we choose to use the land to build a house, we forego the opportunity to use it for a park, a farm, or a business. This need to decide between alternatives due to the limitation of resources is the essence of scarcity.
A swot analysis is an identification and evaluation of a firm's strengths, weaknesses, ___, and threats.
a. occurrences
b. opinions
c. occasions
d. options
e. opportunities
What precautions should you take to make accurate predictions using trend lines?
To make accurate predictions using trend lines, observe the data for any significant linear correlation, calculate the correlation coefficient (r), and use these to construct the least-squares regression line. Ensure the scale used on your axes makes trend identification easy. Importantly, avoid making predictions outside the domain of observed x-values or when there is no significant linear correlation.
Explanation:To make accurate predictions using trend lines, there are various a few precautions to take and strategies to apply. First, one must have a clear idea of how the variables being analyzed may be related. This is a crucial step when constructing the scatter plot and determining if a linear trend is observable within the data.
To begin with, carefully select a scale for both axes that shows all the data and allows easy identification of trends. Avoid a scale that is too large or too small, as it can make trend identification difficult.
Next, once a linear relationship between variables is observed on the scatter plot, you should calculate a statistic known as the correlation coefficient (r). If r is significant and the scatter plot shows a linear trend, then it is appropriate to draw a line of best fit, or least-squares regression line. This line can be used to predict future data points. Importantly, regression line equations calculated from sample data are used as an estimation of the best-fit line for the entire population.
However, caution should be used when making projections using the line of best fit. If r is not significant or the scatter plot does not show a linear trend, the line should not be used for prediction. Furthermore, the line may not be reliable for prediction outside the domain of observed x values.
Last but not the least, to reduce human error, utilize computer spreadsheets, statistical software, or calculators to calculate the best-fit line and create the scatter plot.
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For franklin, inc., sales is $1,500,000, fixed expenses are $450,000, and the contribution margin ratio is 36%. what are the total variable expenses?