1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gemiola [76]
3 years ago
12

as a young entrepreneur, how can you show the responsible ways of purchasing activities on any possible situations you may consi

der?
Business
1 answer:
Helen [10]3 years ago
4 0

Answer:

There are several ways in which a young entrepreneur can carry out purchasing activities responsibly, including:

1. Measured production of inventory or units of products- If an entrepreneur is producing bicycles for instance, (s)he should only spend on inventory that (s)he anticipates will be sold to customers or purchased by retailers. For example, let's assume that the entrepreneur has a purchase order from a retailer such as K-Mart for 500 bicycles. In this case the entrepreneur should only produce around 550 bicycles rather than 700 or 1000 bikes, thus, purchasing supplies and producing inventory in accordance with demand for his/ her bicycles.

2. Lowering costs of production where possible- Firstly, this can be done by purchasing supplies and materials for inventory in bulk. Secondly, the entrepreneur could outsource the manufacturing of his/her product to countries (such as China) where production costs are significantly cheaper.

You might be interested in
What is Business Environment...??​
Lina20 [59]

Answer:

Business environment refers to those aspects of the surroundings business enterprise, which affect or influence its operations and determine its effectiveness. According to Keith Davis, “Business environment is the aggregate of all conditions, events and influence that surrounds and affect it”.

Explanation:

5 0
3 years ago
Read 2 more answers
Cheap Motorcycle. Tony, a hateful, disgruntled business law professor, notices that Peter, a student who is past the age of majo
Yuki888 [10]

Answer:

C) Illusory

Explanation:

More than an illusory contract (which means an unreasonable and non-enforceable contract), this is an unconscionable contract that no court would enforce.

This contract is so one sided that it damages the other party. The duties in clued in this contact are not enforceable because no person should be forced to do all those things just because the other party has more bargaining power.

Out of the 5 possible options the illusory contract is the only possible choice. Illusory contracts are also non-enforceable since only one side provides real consideration.

7 0
3 years ago
Importance of economic growth​
svlad2 [7]

Answer:

Economic growth generates job opportunities and hence stronger demand for labour, the main and often the sole asset of the poor. In turn, increasing employment has been crucial in delivering higher growth.

8 0
1 year ago
Leading economic indicators
Pavel [41]

Answer:

B. New applications for unemployment insurance

D. Stock prices

Explanation:

Unemployment benefits claims is one of the most powerful leading economic indicators, because it can predict, with a high degree of accuracy, the unemployment rate of the next economic periods.

Stock prices are also included in the index of leading economic indicators, more specifically, the Stock Prices of the S&P 500. Stock prices are a leading indicator because investors try to carefully invest in those companies they feel will have a good performance in both the short-term and the long-term.

5 0
3 years ago
The two main sources of government revenue are
seropon [69]
Government's sources of revenue are taxes it takes from citizens and borriwing money
8 0
3 years ago
Read 2 more answers
Other questions:
  • Anne owns a business that trades in perishable commodities. Which property would Anne be interested to invest in? office buildin
    10·1 answer
  • Tell me all the important stuff i need to know about scarcity in terms of Economics?
    6·2 answers
  • Direct material budget. Dawson Co. produces wine. The company expects to produce 2,535,000 two-liter bottles of Chablis in 2018.
    5·1 answer
  • Competitive priorities:
    9·1 answer
  • Use the following information for Problems 35 through 40 A potential investor is seeking to invest $1,000,000 in a venture, whic
    12·1 answer
  • For all practical purposes, listed stock options always expire
    13·1 answer
  • The privacy act of 1974 ____.
    12·1 answer
  • The company's president is disappointed with the forecast and would like to see Swann generate higher sales and a forecasted net
    8·1 answer
  • Before the year began, Milkway Manufacturing estimated that manufacturing overhead for the year would be $175,000 and that 25,00
    10·1 answer
  • Which situation best illustrates the concept of elastic demand for a product?
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!