Answer:
In the absence of technological innovation, massive capital investments yielded diminishing marginal returns.
Explanation:
The economy of the Soviet Union was a command economy where the government decided how resources would be allocated. The four factors of production are land, labor, capital and entrepreneurship. In a command economy, entrepreneurship is virtually nonexistent, so that leaves three factors: land, labor and capital.
The government allocated a lot of resources into increasing the capital factor, but capital factor will always yield diminishing marginal returns unless new technological innovations are developed. During many years, the Soviet Union was the technological leader of the world, but as time passed and with a complete absence of entrepreneurship, technological advances halted.
Answer:
<em><u>Customer Relationship Management.</u></em>
Explanation:
Customer relationship management is a strategic business tool that helps lower costs and increase revenue and build customer loyalty. It is a system whose focus is on customer experience optimization, it connects the entire team through one device, stores and manages current and potential customer information such as address, phone, email and all points of interaction with the company. Simplifies tasks for effective lead tracking, Provides instant recommendations. Customizes, and expands as your organization grows.
The benefits of the customer relationship management system are:
- the optimization of processes and manual efforts,
- the organization of contacts,
- the acceleration of sales,
- increased customer satisfaction,
- error correction,
- better customer service.
Managing customer interaction with the company is essential to strengthening the brand and creating a value relationship with the customer.
Answer:
b. When there is a lack of importance of the buyer to the supplier group
Explanation:
According to Porter there are five forces that can cause rivalry in a production industry. These are supplier power, threat of new entrants, buyer power, threat of substitutes, and degree of rivalry.
Supplier power is when suppliers are able to benefit from the producers by increasing prices of inputs and gaining some industry profit. Since suppliers supply input and labour to the producer they have a greater control of there is lack of importance of the buyer to the supplier group.
This means that the supplier group has more control on price and quality it supplies to the buyer with buyer having little choice but to buy.
If however buyer is more important to the supplier it means they can control price and quality of inputs
Answer:
Easy money is a representation of how the Fed can stimulate the economy using monetary policy. The Fed looks to create easy money when it wants to lower unemployment and boost economic growth, but a major side effect of doing so is inflation.
Explanation:
Answer:
$37,600 favorable
Explanation:
Variable overhead spending variance can be computed as;
= (Actual hours worked × Actual variable overhead rate) - ( Actual hours worked - Standard variable overhead rate)
= ( 18,800 hours × $77,700/12,000) - (18,800 hours × $4.5)
= [(18,800 × $6.5) - (18,800 × $4.5)]
= $122,200 - $84,600
= $37,600 favorable
