Suppose that the average cost of a doctor's visit is $100. if the government imposes a price ceiling of $50 on the cost of a doctor's visit, there will be:
Which of the following government offices help individuals fund their college education?
-Office of education technology
-Office of postsecondary education
-Office of vocational and adult education
-Office of federal Student Aid
Answer:
Office of federal Student Aid
Explanation:
-Office of education technology works providing the technology policy to transform education.
-Office of postsecondary education develops and manages postsecondary education programs and policy.
-Office of vocational and adult education manages programs and policies related to adult education technical education and community colleges.
-Office of federal Student Aid provides financial assistance for higher education students like loans, grants and work-study program.
According to this, the government office that helps individuals fund their college education is the office of federal Student Aid.
Selecting which segments of a population of customers to serve is called ________.
Final answer:
Selecting which segments of a population of customers to serve is called market segmentation.
Explanation:
The process of selecting which segments of a population of customers to serve is called market segmentation. Market segmentation is a strategy used by businesses to divide a large market into smaller, more manageable segments based on certain characteristics, such as demographics, psychographics, or behavior. By targeting specific segments, businesses can tailor their marketing efforts and offerings to better meet the needs and preferences of those particular customers.
It is used to identify and target specific customer groups with distinct characteristics, preferences, and needs. It helps businesses tailor marketing strategies, products, and services to meet the unique requirements of each segment. This approach enhances customer satisfaction, increases marketing effectiveness, and maximizes overall business performance in diverse markets.
What is the first step of the buyer decision process?
a. purchase decision
b. need recognition
c. alternative evaluation
d. information search
e. postpurchase behavior?
Answer:
B
Explanation :
• Problem or need recognition: - first stage of the Consumer Decision Process in which the consumer is able to recognize what the problem or need is and subsequently, what product or kind of product would be able to meet this need. It is oftentimes recognized as the first and most crucial step in the process because if consumers do not perceive a problem or need, they generally will not move forward with considering a product purchase.
•Information search;- Information Search is a stage in the Consumer Decision Process during which a consumer searches for internal or external information..
•Evaluation of alternatives;-During the evaluation of alternatives stage, the consumer evaluates all the products available on a scale of particular attributes
•Purchase: Purchase Decision: The fourth stage in the consumer decision process and when the purchase actually takes place
•Post-purchase behavior:- is when the customer assesses whether he is satisfied or dissatisfied with a purchase.
Need recognition is the first step of the buyer decision process. Hence, option B is correct.
What is buyer decision process?The first step in the consumer decision process is problem or need recognition, during which the customer can identify the issue or requirement and determine what product or class of products would be most suited to address it. It is frequently acknowledged as the first.
A consumer searches for internal or external information during the information search stage of the consumer decision process.
Evaluation of alternatives: The consumer assesses all of the products on the market using a scale of specific features during this stage.Purchase: The fourth stage of the consumer decision-making process and the time at which the actual purchase is made.Post-purchase behavior: This is when a consumer decides whether or not he is happy with a purchase.Thus, option B is correct.
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A prospective purchaser of a residential property sends written notification to the listing broker documenting that she has been unable to secure financing according to the terms of the agreement and requests return of the earnest money deposit. the seller instructs the broker to retain the earnest money deposit as liquidated damages. the broker is legally authorized to
A broker handling an earnest money deposit should follow the terms of the agreement according to legal obligations. If the agreement specified that failure to secure financing would result in forfeiture of earnest money, then the seller's claim could be valid. The earnest money deposit serves as collateral showing the buyer's serious interest in purchasing the property.
Explanation:In the given scenario, if the buyer of a residential property sends written notification to the listing broker that they've been unable to secure financing according to contract terms and requests a return of the earnest money deposit, the broker should follow the legal norms that apply in their region. Typically, earnest money deposits are put in escrow, and release of these funds generally requires agreement from both parties (buyer and seller). If the seller instructs the broker to retain the earnest deposit as liquidated damages, the broker would have to follow the terms of the agreement in line with legal obligations.
Assuming the purchase agreement specified that failure to secure financing would mean forfeiture of the earnest money to the seller, the seller could lawfully claim the deposit. However, if there was a clause allowing for return of the deposit under these circumstances, the seller's claim may not be valid and might have to be challenged in court.
Earnest Money DepositAn earnest money deposit is a collateral given by the buyer to show their serious interest in buying the property. Its main purpose is to protect the seller from a buyer's last-minute change of mind. It often ranges from 1% to 5% of the purchase price and is typically fully refundable if conditions outlined in the purchase agreement are met.
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Expansionary fiscal policies are designed to
A. boost the economy.
B. slow the economy.
C. balance the economy.
D. have no effect on the economy.,
Occupants of the international space station experience weightlessness due to
Jennifer is a manager in a circuit manufacturing plant. a portion of the production process is extremely tedious and repetitive, and employees tend to become bored and careless when performing this task. what alternative could make this repetitive task quicker and less susceptible to error?
Answer:
Robotics.
Explanation:
In this case, the most appropriate alternative would be the use of robotic automation.
This is an increasingly growing technology in the world, whose objective is to automate business processes in order to streamline industrial operations, reduce costs and facilitate work.
Through the use of software or robots, it is possible for the company to capture and interpret data that generate relevant information for data manipulation, processing transactions, communication with other digital systems, etc.
Nathan started the first outlet of dynamix gym in new york city in 1995. the business expanded over time, and he became the owner of a chain of gyms in new york state. though the business had potential to expand outside new york, nathan did not want to take the risk or responsibility. hence, he decided to sell the license to own and operate gyms under the brand name dynamix gym to independent owners. in return, he charged them an initial fee and a small share in the monthly profits. in this scenario, nathan is a(n) _____.
Nathan is considered to be a franchiser. A franchiser is being defined as someone who owns an overaching company or trademarks and products in which they give a right to the franchisee to be able to run the franchise’s location in which is agreed with a fee.
A company purchased $4,300 worth of merchandise. transportation costs were an additional $380. the company returned $295 worth of merchandise and then paid the invoice within the 1% cash discount period. the total cost of this merchandise is:
Answer:
Cost of inventory includes all costs paid by company to bring inventory to its wareshouse. It includes all expenses except expenses that can be classified as selling and admin expenses. So to determine total cost of inventory we will add all costs and subtract cash discount from it. Please note that cash discounts are part of inventory cost but early payment discounts are not deducted from inventory cost.
Detail calculation is given below.
Purchase price $ 4300
Transportation cost $ 380
purchase return ($ 295)
Cash discount ($ 40.05) (4300-295)*1%
Total cost $ 4344.95
The total cost of the merchandise, considering transportation costs, returns, and the 1% cash discount, is $4,341.15.
To calculate the total cost of the merchandise, including transportation costs, returns, and cash discount, we need to follow these steps:
Start with the initial purchase cost of $4,300.
Add the transportation costs of $380 to the initial purchase cost:
$4,300 + $380 = $4,680
Subtract the value of returned merchandise ($295) from the total cost:
$4,680 - $295 = $4,385
Now, calculate the 1% cash discount. To do this, multiply the total cost after the return by 1% (0.01):
$4,385 * 0.01 = $43.85
Finally, subtract the cash discount from the total cost after the return to find the total cost of the merchandise after the discount:
$4,385 - $43.85 = $4,341.15
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Celeste has a lot going on in her life: she's a volunteer at a community center for children, she works weekends as a receptionist, she babysits her nephews every Monday and Wednesday, she takes her parents' and neighbors' dogs for walks after school, she writes for the school newspaper, and she takes informal art classes whenever she can during the week. She's very organized with her commitments and keeps a well-planned schedule, but she's noticing a decline in her grades with so much going on. What should Celeste do to create a more balanced life?
Marcus's family purchased a trampoline in 2000. they sold the trampoline at a garage sale in 2010 to zac's family. in 2012, zac is injured while jumping on the trampoline when it collapses. if zac's family sues the trampoline manufacturer in 2013, their lawsuit will likely be dismissed based on the:
A hospital uses a paper-based system. its kitchen staff prepares meals for everyone who is a patient in the hospital as of midnight the night before. it is impossible for them to obtain data about several discharges until the next night, which results in a considerable amount of food wasted at a substantial cost. which process could the hospital adapt so that the kitchen staff is more efficient and doesn't waste food on patients who have already been discharged
Which type of conceptual block arises from set ways of thinking?
1. cultural
2.emotional
3.expressive
4.perceptual
for Plato users the answer is: perceptual
The conceptual block that arises from a set way of thinking is a perceptual block. Thus, the correct option is 4.
What are Conceptual block?Conceptual blocks are the mental stances that prevent a person from solving problems creatively, these acts as barriers that keep people stuck in a logical pattern which is unproductive. These blocks prevent creativity, as a person thinks from a single set of reasons.
Conceptual blocks could be either pre-established methods or routine human actions that may result in monotonous or unsatisfactory experiences.
Types of Conceptual blocks:-
There are 6 Types of Conceptual Blocks, These are:-
1. Perceptual
2. Emotional,
3. Cultural
4. Environmental,
5. Intellectual
6. Expressive
Methods to overcome conceptual blocks:- Understand the difficulty as you see it, and then perceive it in other ways. Use different analogies for the problem. Elaborate on it, and look for ways to state it differently. Develop various unconventional techniques for encouraging creativity in problem-solving.
Thus, the correct option is 4.
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What is the main advantage of the billion prices project over the cpi?
Answer:
The billion prices project monitors online information about prices. The advantage of using online data is that it is very hard to manipulate by a specific government since everyone can access it.
This project started in response to the government manipulation of the CPI in Argentina (and later in Venezuela). Government officials can forge information about the inflation rate, but the project started researching online prices and those cannot manipulated by the government.
Currently PriceStats (a private company) monitors online prices on a daily basis, and that is something impossible to do on brick and mortar stores.
You sell hockey goals for $200 each. weekly sales are 60 units. you estimate that for every $10 you increase the price, sales drop by 3 units per week. what will be your weekly revenue from hockey goals at a price of $300?
Which of these is true about the normal balance of an income summary?
a) It depends on which financial statement it appears.
b) The balance is credit.
c) The account doesn't have a normal balance.
d) The balance is debit.
The answer is: c) The account doesn't have a normal balance.
Income summary only exist temporarily. It's used by accountant in the closing entries to close all incomes and expenses incurred in the previous year so the income and expense restarted from 0 in the next year. This account does not have a normal balance and would not be included on the balance sheet.
Areas of business within a firm that are distinct enough to have their own missions, business objectives, resources, managers, and competitors are referred to as ________.
What is a variable expense?
A. An expense that is the same during some months, and different during other months.
B. An expense that is the same from month to month.
C. An expense that is different from month to month.
D. None of the above.
Which music style is least likely to be embellished by the performer?
A. Fugue
B. Aria
C. Solo Sonata
D. Prelude
Fill in the blanks to complete the passage regarding the development of illegal markets in response to price ceilings. – are illegal markets that emerge in response to price controls. a few buyers are able to obtain the good at the open-market price; the rest must resort to illegal means. the additional demand is met by – suppliers selling at much – prices.
Black markets are illegal markets that emerge in response to price controls. A few buyers are able to obtain the good at the open-market price; the rest must resort to illegal means. The additional demand is met by underground suppliers selling at much higher prices.
The government does not support the black market or any of their actions with getting items and selling them in other forms. Those who are in demand of a good when they have a hard time in getting it may purchase it illegally at a higher price just so they can receive that good. When there is an exchange of goods in the black market, these items are usually prohibited by the government and therefor illegally being sold.
Julie works at a job where she is paid a fee for each sale she makes rather than an hourly salary. she is a good salesperson but never knows when she will make her next sale. this means that her salary reflects a __________ schedule of reinforcement.
Final answer:
Julie's commission-based income reflects a variable ratio reinforcement schedule, characterized by rewards given after an unpredictable number of sales, leading to high and consistent motivation.
Explanation:
Julie's salary, which is based on inconsistent sales, reflects a variable ratio reinforcement schedule. This schedule rewards a behavior after an unpredictable number of responses, which is similar to a gambler who never knows when their next win will be. Salespeople, like Julie, who earn commission per sale, find their income fluctuates due to the unpredictability of when a sale will occur, but this can lead to consistently high levels of motivation to make sales.
________ is/are changes in products, services, or processes that radically change an industry's rules of the game.
When ann taylor, a well-known retailer of sophisticated women's clothing, started losing sales to its own loft outlets that feature moderately priced casual clothes, ann taylor was dealing with the marketing phenomenon known as _?
What are some differences between command, market, and traditional economies?
The work of your group would be better done in teams if the members of the team are ________.
When the percentage change in the quantity demanded equals the percentage change in price, the demand curve is _______.
a. a vertical line
b. curved away from the origin
c. a horizontal line
d. curved toward the origin?
Final answer:
In unitary elastic demand, the percentage change in the quantity demanded equals the percentage change in price.
Explanation:
When the percentage change in the quantity demanded equals the percentage change in price, the demand curve is a horizontal line. This condition is known as unitary elastic demand.
In unitary elastic demand, the price elasticity of demand is exactly equal to 1. It means that a 1% change in price will result in a 1% change in quantity demanded.
For example, if the price of a product increases by 10% and as a result, the quantity demanded decreases by 10%, the demand curve will be a horizontal line with unitary elasticity.
Which sentence in the passage is true about credit? A customer needs to pay less money for goods and services using credit. The failure to repay credit will not affect an individual’s credibility. The use of credit adds to the purchasing power of consumers. The unplanned use of credit can result in bankruptcy. Using credit has no major impact on a country’s economy
Based on the passage, it is true that credit increases consumers' purchasing power and that misuse can lead to bankruptcy. However, failure to repay credit can harm an individual's credibility and the aggregate use of credit can impact a country's economy.
Explanation:In the passage provided, the following sentences about credit are true:
The use of credit adds to the purchasing power of consumers.The unplanned use of credit can result in bankruptcy.The sentence, 'A customer needs to pay less money for goods and services using credit', is not necessarily true. Using credit simply allows for a delayed payment; it does not change the actual cost of the goods or services. The same logic applies to the sentence, 'The failure to repay credit will not affect an individual’s credibility.' This is incorrect as failure to repay credit can harm one's credit score and overall financial credibility. Furthermore, the statement 'Using credit has no major impact on a country’s economy' is also false, as high levels of consumer and public debt can greatly affect a country’s economy.
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International officials and business leaders have gathered to discuss free-trade policies. Outside their summit, protesters shout, "People before profit." These activists most likely align with which economic theory?
A. Adam Smith's unregulated supply and demand
B. John Maynard Keynes's limited government intervention
C. John Maynard Keynes's mixed market forces
D. Karl Marx's collapse of capitalism
Answer:
D) Karl Marx's collapse of capitalism
Explanation:
Karl Marx believed that the rich people (bourgeoisie) the benefited from the work of the working class people, he called them the proletariat. He stated that the abuses committed by the rich would eventually make the working class people rebel against the rich and dominant upper class. According to him, the rich only cared about money and didn't care about the welfare of the lower working classes.
Your expenses exceed your income. You should cut back your
a. fixed costs.
b. variable costs.
c. opportunity costs.
d. budget.
i think its either b or d. Please help me! Thanks! :),
If your expenses exceeded your income, you should reduce your variable cost. The variable cost is the controllable cost because it depends on the level of the output you are expected to have. These are costs that can be cut off by reducing the output level.