Answer:
B) Contingency planning
Explanation:
When a person or an organization develops a contingency plan, it means that they developed their plan B (or even C). This means that you are planning ahead in case something doesn't go as it should or something really bad happens. This is exactly what FEMA does with NIMS, they make contingency plans in case of emergencies.
In this specific case, it is unlikely that a natural disaster destroys the store, but an economic catastrophe might hit it. Management is developing a contingency plan in case that sales plummet. This plan might include aggressive marketing promotions, reducing personnel, lowering costs, obtaining a loan, etc.
Answer:
R = 8.2803%
Rounded: 8%
Explanation:
Solving our equation:
r = (1/3)(98000/78500) - 1) = 0.08280255
r = 0.08280255
Converting r (decimal) to R a percentage
R = 0.08280255 * 100
= 8.2803%
Hope this helped! :D
Answer:
$350,000
Explanation:
The economic is the profit that also takes into account the opportunity costs, which are the savings and earning that could be made by opting the next best alternative. In this case the opportunity costs are the savings the farmer would earn on $1,000,000 @ 2% and the amount he can make as a shoe salesman.
Economic profit = Revenue - Costs - Opportunity costs
Assuming 150,000 baskets of peaches @ $4.00 each
Opportunity cost of savings = 1,000,000*0.02 = $20,000
Opportunity cost of shoe salesman = $40,000
Economic profit = (150,000*4) - (60,000 + 130,000) - (20,000 + 40,000)
Economic profit = $350,000
Hope that helps.
Answer:
The correct answer is c. Reducing barriers that limit entry of firms into new and existing markets.
Explanation:
An entry barrier is a high cost or other type of barrier that prevents a business from entering the market and competing with other businesses. Barriers to entry may include government regulations, the need for a license, or having to compete with a large corporation being a small business.
As an example, the large company is able to produce a larger quantity of products more efficiently than a company with fewer resources. They have lower costs because they are able to buy bulk materials, and they have less overhead because they produce more under one roof. It would be difficult for the small company to keep up with that, resulting in the avoidance of market entry.
Barriers to entry can have a negative effect on prices because the playing field is not level and competition is restricted. It is not an ideal situation for anyone except for the large company that has a monopoly. However, entry barriers are not always prohibitive. In fact, many new businesses find some type of entry barrier that they must overcome, be it the initial investment, the acquisition of licenses or obtaining a patent - it is only part of the business.
