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Marysya12 [62]
3 years ago
8

There are many options available to consumers when it comes to breakfast cereals. So, if Kellogg's significantly increases the p

rice of Rice Krispies, consumers are more apt to buy alternate cereals instead. This illustrates which concept?1) cross-price elasticity
2) the income effect
3) the target return effect
4) the substitution effect
5) the break-even point
Business
1 answer:
Natalka [10]3 years ago
8 0

Answer:

4) the substitution effect

Explanation:

When a product's change in price (increase) directly influences the consumers to switch to lower-cost alternatives, it is called the substitution effect.

Usually, it is applicable for similar kinds of FMCG goods. Of course, personal spending power and consumer habits are of great importance too, but the substitution effect best describes what happens with the consumer choice when the price of a particular good increases.

The substitution effect describes situations <u>when the product's price increases, but the spending power remains on the same level</u>. If the change in spending power was the input for <em>consumer choice</em>, than it would be the <em>income effect</em>.

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Charlie was in charge of handling a media conference for his company after a recent product recall incident. He prepared media k
vova2212 [387]

From the illustrated description of Charlie’s job in his company, it is clear that Charlie’s role in the company is working as a public relations manager.

A public relations manager is responsible for maintaining a favorable image of their clients, be it individuals, or in Charlie’s case, a company. This include dealing with the media, holding press conferences, and writing press releases.

7 0
3 years ago
The more information an entrepreneur acquires during the process of _____, the higher the chance that his or her predictions wil
Mashutka [201]

The more information an entrepreneur acquires during the process of feasibility analysis, the higher the chance that his or her predictions will be close to the mark, risk will be reduced, and uncertainty managed.

<h3><u>Explanation:</u></h3>

The study or examination about the extent to which the proposed idea will be practical and can be achieved at an economic manner refers to the feasibility study. In business it is very essential to decide whether to take up a project or not. It also helps in narrowing the project and plan accordingly.

It also helps in making predictions about whether the expected results can be attained from a particular idea or a project. Thus during the feasibility study the entrepreneur must obtain as much information as possible as it helps him in the evaluation of risks, uncertainties and other related things.

7 0
3 years ago
The political business cycle refers to the phenomenon that just before elections, politicians enact ________ policies. After the
vovikov84 [41]

Answer:

The correct answer is option B.

Explanation:

The political business cycle can be defined as the fluctuations in the economy caused because of political activities. Often before elections, politicians enact expansionary policy to show economic growth to prove their competence.  

But if used in excess these policies can be harmful to the long term growth of the economy. So after getting re-elected, politicians who are aware of the negative effects of these policies will reverse these policies and adopt a contractionary policy to reduce inflationary pressures.

6 0
4 years ago
Bacon has budgeted sales for the first quarter of the next year to be 30,000 units. The inventory in hand at the beginning of qu
andriy [413]

Answer:

The budgeted production is 35000 units and option B is the correct answer.

Explanation:

The budgeted production for the quarter should be enough to meet the demand for sales for the quarter along with providing enough inventory to meet the desired level of ending inventory.

However, some of the sales for the quarter can be fulfilled using the opening inventory. Thus, we need to determine the net amount of sales that will remain uncovered after selling off the opening inventory.

Remaining sales for the quarter = Sales - Opening Inventory

Remaining sales for the quarter = 30000 - 5000 = 25000 units

The budgeted production is = 25000 + 10000 = 35000 units

5 0
4 years ago
Read 2 more answers
Does Boeing practice a murtinational operations strategy, a global operations strategy, or a transnational operations
Sholpan [36]

Answer:

1. Global. It's level of Integration goes beyond multinational. The collection of parts and subassemblies coming from other countries is carefully orchestrated. It is not transnational because it's "home" is clearly the US and there is little sense of local responsiveness.

Explanation:

we found here 3 option they are

  1. global. its level of integration goes beyond multinational. the collection of parts and subassemblies coming from other countries is carefully orchestrated. it is not transnational because its​ "home" is clearly the​ u. s., and there is little sense of​ "local responsiveness."  
  2. multinational. its level of integration is not enough to be global. also it buys​ resources, creates goods and​ services, and sell goods and services in a variety of countries.
  3. transnational. its​ material, people, and ideas transgress national boundaries. it combines the benefits of​ global-scale efficiencies with the benefits of local responsiveness. it is not global because the core competence does not reside in just the​ "home" country but can exist anywhere in the organization.

correct option is (1)  as Boeing 786 has partners and suppliers in more than a dozen countries. More than 35% of these are made in Japan and more than 10 in Italy. 70 to 80% of Dreamliners are manufactured by other companies.

This is typical of the global strategy, where the partner countries are involved in the development process, but the final development takes place in the parent company. The Boeing 787 is a very high-tech product, so there is almost no local accountability. So this is a global strategy

8 0
3 years ago
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