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dem82 [27]
3 years ago
10

The primary advantages of specialization are that employees acquire greater _______ from repetition, they avoid _______ time in

shifting from one task to another, and they do the types of work for which they are ________ suited.
Business
1 answer:
kow [346]3 years ago
4 0

Answer:

Efficiency

wasting

best / well

Explanation:

Specialization is a method of production where a worker focuses on a particular production process in order to be more efficient.

For example, if a worker focuses on maybe packaging a product only. By doing the packaging repeatedly, the worker would become more efficient at his work - he would make less mistakes and become faster.  Also, less time is wasted from moving from one duty to another.

Advantages of specialisation

  1. Workers becomes more efficient
  2. production increases  at producing goods
  3. It matches worker with the duties they are best suited for
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At a price of $15 each, marta buys 4 books per month. when the price increases to $20, marta buys 3 books per month. luz says th
saveliy_v [14]
No, Luz is incorrect. Marta's quantity demanded has decreased, but her demand has stayed <span>the same. It is true that </span>As a price for a product increases, the demand for that product will be most likely to decrease because consumers have to make more sacrifice without any additional income.
But, if you pay attention to the case above, you can see the total value of demand that marta has is still the same, which is $ 60
6 0
3 years ago
individuals differ in risk aversion because of: group of answer choices differences in their insurance. moral hazard. adverse se
Gwar [14]

Individuals differ in risk aversion because of differences in income or wealth.

  • Risk aversion is the propensity of people to choose outcomes with low uncertainty over those with high uncertainty, even when the average outcome of the latter is equal to or higher in monetary worth than the more definite event. This tendency is shown in both economics and finance.
  • Risk aversion is the tendency to avoid danger. A risk-averse investor is one who prioritizes money preservation over the potential for a higher-than-average return. Price volatility and investment risk are the same.
  • If someone would rather take the risk and maybe receive nothing than accept a definite payment (certainty equivalent) of less than $50 (for instance, $40), they are considered to be risk averse. If they have no preference between the wager and a specific $50 payoff, they are risk neutral.

Thus the correct answer is d.

Refer here to learn more about risk aversion: brainly.com/question/8394406

#SPJ4

5 0
1 year ago
1. Based on the above article, if you were an entrepreneur, which sector would fit you the most? Justify your answer by conducti
natita [175]

Answers:

1) As an entrepreneur, I would go the route of providing online fitness services combined with healthy foods that go with specific body types.

Feasibility

Justification: As people become more and more sedentary due to social distancing, a new health problem arises.

The human body was not built to be redundant. I was built for healthy activity. Exercising protects the heart and facilitates blood circulation. The increased blood flow boosts the levels of oxygen in the body.

When this happens, the risk of heart diseases such as high cholesterol, heart attack and coronary artery disease is reduced. Regular exercise can also reduce your blood pressure and the levels of triglycerides.

Exercising without eating properly also translates to serious health problems such as stamina, strength, and weight loss. So, providing consultative services on what to eat and how to eat them and who should eat what is a great complimentary add-on to the health and fitness service.

<em>Who needs the service?</em>

Except for those with serious health issues such as heart conditions, kidney diseases, etc everyone can and should exercise to prevent them becoming overweight.

People who will be able to afford our services going from the above analysis would fall in between middle income to High Net-worth Individuals.  

We will also be looking at businesses who would be interested in purchasing health/wellness programs such as ours for their staff.

<em>Why will they buy?</em>

We'd be providing continuous health tips, great eating habits and foods which are medicinal when eaten rightly.

Besides the cost of subscribing to our services and the cost of the recommended food types, and perhaps data subscriptions (which most already have) there is no other cost involved. There won't be a need for gymnastics equipment because our method of fitness training does not require such. It depends on the use of the body's weight. This is called Callisthenics.

<em>Our Unique Selling Point</em>

We will have in our employment, nutritionists with whom they can consult on the go depending on the type of subscription they opt for.

We will also have dedicated customer care personnel whose job will be to motivate and encourage clients towards their health and fitness goals

We will also have psychologists who will help people with body insecurity needs depending on which package they sign up for.

Assuming we charge a total market of 20 Million Americans who will sign up and pay $10 every month, that comes to two hundred million USD annually.  

We also charge for specialised services using the normal wage rates but not more than $10 per hour. This is to ensure that everyone buys into the program. 40% of our revenue will go into operational expenses including lump-sum payments monthly depending on initial sales.

Given the draft feasibility above, the company stands to make at least 60% of its income as profit when the market is fully developed and that comes to about $ 120 Million.

Besides investing in our staff, we'd invest in a great digital camera, mini studio and ancillary equipment for pre-recorded training.

2. Porter's 5 forces are:

  • The risk of new players
  • The risk of substitute products
  • Power of suppliers
  • Power of customers
  • Industry Competition

 

The risk of new players entering the market is significant. It all depends on the quality of expertise one is bringing on board. Many of our trainers are going to be people with many years of experience, sound academic qualifications and great results.  

The risk of substitute products /services.  As already stated above, our well-experienced trainers will have a profile that is difficult to surpass.

The risk of suppliers usurping our model is very low. We plan to build our network to gain very quickly loads and loads of followers in their millions such that we become a great platform for suppliers of vitamin supplements, healthy packaged food products etc to sell their goods.  

Customers are always king. They hold the key to the business. That is why we will have highly trained, kind, professional, customer care personnel to cater to the needs of our clients.

Industry Competition: This is to be expected. To win the competition, we will adopt the differentiation strategy, and cost focus strategy while delivering quality care.

3. Given the above, I strongly believe that it is possible to enter with a niche strategy. There were loads of chat services which entered the market when it looked saturated but have now broken through. Our strategy in terms of pricing will be crafted such that it fits our market entry model.

4. At the time of writing this, I definitely would consider launching a business in this sector. The opportunities are enormous. It is a global market which requires specialised training. Total cost of set-up is on the low side and potential profit is very high.

Cheers!  

Download txt
6 0
3 years ago
Lipstik, Inc. makes cosmetics. Lipstik intentionally mislabels its packaged products to conceal a defect. Trusting and relying o
Zanzabum

Answer:

Fraud.

Explanation:

Fraud is defined as intentional misrepresentation aimed at gaining unlawful advantage or to deprive a victim of a legal right.

In civil law the victim can file for recovery of money, while in criminal law the fraud perpetrator may be committed to prison.

Lipstik intentionally mislabels its packaged products to conceal a defect, and gains unfair advantage by selling these defective goods to customers. Mikayla buys the lipstick based on the misrepresented information on the label and gets injured.

8 0
2 years ago
Corrector guarantees its snowmobiles for three years. Company experience indicates that warranty costs will be approximately 5 %
rodikova [14]

Answer:

A.CORRECTOR JOURNAL ENTRIES

1.2016

Dr Cash 240,000

Dr Note receivable 560,000

Cr Sales Revenue 800,000

2. Record of the warranty expense.

2016

Dr Warranty Expense 40,000

Cr Estimated Warranty Payable 40,000

3.To Record the warranty payments for the company.

2016

Dr Estimated Warranty Payable 12,000

Cr Cash12,000

B . T-ACCOUNT

DEBIT SIDE

The Estimated Warranty Payable will be:

Dr Payments12,000

CREDIT SIDE

Beginning balance 0

Accrual 40,000

Ending balance 28,000

Explanation:

A. Preparation of the Record of the sales, warranty expense, and warranty payments for the company while Ignore cost of goods sold.

CORRECTOR JOURNAL ENTRIES

2016

Dr Cash 240,000

(30%× Sales amount $800,000)

Dr Notes Receivable 560,000

(800,000-240,000)

Cr Sales Revenue 800,000

(560,000+240,000)

To record sales for 2016

Record of the warranty expense.

2016

Dr Warranty Expense 40,000

(5%×800,000)

Cr Estimated Warranty Payable 40,000

To record the accrue warranty payable.

To Record the warranty payments for the company.

2016

Dr Estimated Warranty Payable12,000

Cr Cash12,000

To record Warranty payments.

B . T-ACCOUNT

DEBIT SIDE

The Estimated Warranty Payable will be:

Dr Payments12,000

CREDIT SIDE

Beginning balance 0

Accrual 40,000

Ending balance 28,000

(40,000-12,000)

4 0
3 years ago
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