Answer:
Market : Gasoline
b. Standardized good
c. Full information
e. Participants are price takers.
Market : Barbershop haircuts
a. Large number of buyers
c. Full information
Market : Bicycles
a. Large number of buyers
b. Standardized good
c. Full information
d. No transaction cost
Explanation:
The three markets will have different characteristics which will cause the competition. The Gasoline market has standardized product and the customers are price takers. Usually the prices are fixed for the products and there is no bargaining.
Answer:
Event Classification
1. Asset Source
2. Asset Use
3. Asset Use
4. Asset Source
5. Asset Exchange
6. Not applicable (NA)
7. Asset Source
8. Asset Use
9. Asset Source
10. Asset Exchange
11. Asset Source
Explanation:
An asset is an economic resources controlled by an entity from which future economic benefits are expected.
In recording asset, business events can result in asset source,asset use and asset exchange. Asset source is the acquisition of asset, asset use is consumption of existing asset and asset exchange is the transfer of asset from one source to another.
I believe the answer is c, <span>the goal is to produce customized products, whenever and wherever needed.
Customized products refers to the type of product that is personalized according to the costumer's taste. Example of mass customized products is online pizza ordering platform that allow costumers to choose their own combination of toppings.</span>
Answer:
In Kate's case, Horn effect bias is applied
In Miguel's case, Halo effect bias is applied
Explanation:
As per analysis Duane has implied Horn effect towards first candidate, Kate. Authorities who lodge such persona appraise few alternatives and consider limited information while taking any decision. They are intuitive and impulsive, do not find it important to consult details and may use a few inputs to cognitive process and idea while taking decisions. In this case, just a few recent occasions of tardy to work are costed more than three years efforts to Kate.
As per scenario of Miguel, Duane is exhibiting Halo effect, despite the fact, that Kate has the high performance rate and has earned high marks from her teammates. Duane is sure implying favoritism over rationalism and cognitive behavior in favor of Miguel. He is ignorance towards the facts highlights that there was no complete thought process in his decision, for him being graduated from Lorton University was the ultimate hail. The affinity bias occurs when hiring manager prefer the candidate with some linkage to like which school they went to. Meanwhile they forgo to undertake the details about a particular candidate.
