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Bezzdna [24]
3 years ago
8

Why is the demand for most services--such as popular restaurants--extremely time-and-place dependent?

Business
1 answer:
arlik [135]3 years ago
8 0
The reason why the demand is extremely time-and-place dependent would be: <span>Because customers must be present for service to be delivered
</span>customers must be present for services businesses because Unlike merchandising business, service business focused on the enhance Customer's experience rather than focus on selling the product.
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A gift shop sells 2000 boxes of scented candles a year. The ordering cost is $100 for scented candles, and holding cost is $10 p
Gekata [30.6K]

Answer:

Minimun cost: $2000

Explanation:

We solve for the optimal order size using the

Economic Order Quantity:

Q_{opt} = \sqrt{\frac{2DS}{H}}

<u>Where: </u>

D = annual demand = 2,000 boxes

S= setup cost = ordering cost = $ 100

H= Holding Cost = $10.00

Q_{opt} = \sqrt{\frac{2(2,000)(100)}{10}}

Q_{opt} = \sqrt{40,000}

EOQ 200

It should order: 2,000 demand / 200 order size =  10 times

At a cost of 1,000 dollar (100 units x $ 10)

It will face an average inventory of 100 units thus holding cost:

100 units x 10 dollar per unit = 1,000

Total cost: 1,000 + 1,000 = 2,000

6 0
3 years ago
During a company's first year, the asset account, Office Supplies, was debited for $2,600 for the purchases of supplies. At year
Sauron [17]

Answer:

Supplies Expense 1625 Dr

    Supplies Account   1625 Cr

Explanation:

First, we need to determine the supplies expense for the period. The supplies expense can be calculated by deducting the year end supplies balance from the supplies account balance.

The supplies expense = 2600 - 975 = $1625

The adjusting entry that will be made at the end of the period is,

Supplies Expense 1625 Dr

    Supplies Account   1625 Cr

4 0
3 years ago
From 1948 to 2003 the United States experienced an average real GDP growth rate of 3.5 percent and Guatemala had an average real
Luda [366]

Answer:

No, we can’t say

Explanation:

In this question, we are asked to decide if we can say that Guatemala’s standard of living grew more than that of the US’ standard of living between the years 1993 and 2003 given the pointers in the question.

We cannot say that this is correct because of the following reasons;

As observed from the question, the US growth rate was calculated between the years 1948-2003, which is indicative of a 55 year span. Now, comparing this with that of Guatemala, we can see that the span here is just 10 years I.e from 1993 to 2003.

Also, we were not provided with the population growth rate in both countries and this makes it difficult to judge which of the two countries have a better growth in terms of standard of living

5 0
3 years ago
Read 2 more answers
Darnell lives in Philadelphia and runs a business that sells pianos. In an average year, he receives $842,000 from selling piano
Karolina [17]

Answer:

The wholesale cost for the pianos that Darnell pays the manufacturer - explicit cost  

The salary Darnell could earn if he worked as an accountant - implicit cost

The wages and utility bills that Darnell pays - explicit cost  

The rental income Darnell could receive if he chose to rent out his showroom.-implicit cost

Explanation:

Explicit cost includes the amount expended in running the business.

They include rent , salary and cost of raw materials

Explicit cost is used in determining accounting profit

Implicit cost or opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives

Implicit cost is used in determining economic profit

If Darnell didn't use his showroom, he could have rented it out. Renting it out is his next best option that was forgone. Thus, it is an implicit cost

If Darnell didn't start his business, he could have been working as an accountant. The amount he could have earned as an accountant is his implicit cost

7 0
3 years ago
In 2013, there are four open flute positions in major orchestras. A total of 525 professional flutists audition. In the same yea
love history [14]
The best and most correct answer among the choices provided by your question is the second choice.

The differences of their salaries is that t<span>he bassoonists earn a higher salary than the flutists.</span>

I hope my answer has come to your help. Thank you for posting your question here in Brainly. We hope to answer more of your questions and inquiries soon. Have a nice day ahead!
3 0
3 years ago
Read 2 more answers
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