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For people who live near a bus route, a subway station, or a commuter rail line, public transportation provides a substitute to

Tom [10]

Answer: Positive.

Explanation:

Suppose there are two related goods, i.e, Good A and Good B.

Cross price elasticity of demand refers to the responsiveness of demand for Good A if there is a change in the price of its related good, i.e, Good B.

Now, we are talking about gasoline and public transportation, suppose if there is increase in the price of gasoline then it will be costlier for the people to drive their own cars, as a result demand for public transportation increases.

There is a positive relationship between the gasoline and public transportation.

Hence, cross-price elasticity of demand between gasoline and public transportation is Positive.

5 0

3 years ago

All of the following factors combine to help determine whether a vehicle is a value except: Low price. High quality. Level of st

RUDIKE [14]

Answer:

Both low price and high quality.

Explanation:

The characteristics that make a product or service have a perceived value for the consumer, are the various functionalities and benefits that satisfy the needs and desires of the customer. Such benefits are independent of the price of the product or quality, since value is a set of rational or irrational attributes that the consumer perceives, such as the brand image, experience, functionality, product benefits, etc.

Value creation is variable for each consumer group, as each person perceives value as a set of specific attributes that satisfy their desires, so it is not possible to classify low price or high quality as value determinants, as these characteristics change according to the consumer's style.

Therefore, for a company to deliver value to the consumer, it is essential that it conducts segmentation studies and identification of its target audience and from there develop strategies aimed at creating value for its audience.

7 0

3 years ago

For the past two years, Swen Johannsen, owner/general manager of Swen's Fine Duds, a local men's clothing store, has fought to s

Viefleur [7K]

Answer:

Swen is using product/service repositioning strategy.

Explanation:

Product Repositioning simply refers to the art of altering the target markets perception of one's product and or services.

Swen is still in the clothing business. He has only changed the way he delivers it to the target consumers.

Of course, this sometimes calls for a change in product mix (which refers to altering the type of products being offered). However, the central idea of the strategy still holds as customers now see the business differently.

This type of strategy is easier to pull off for start-ups, or unpopular businesses trying to make a comeback. Where the business is a well-established brand, it can prove extremely difficult and may be costly.

Cheers.

4 0

3 years ago

The Chief Information Officer (CIO) and the Managing Director (MD) of Illustrious Limited recently had the following conversatio

-Dominant- [34]

Answer:

Illustrious Limited

a) I sympathize with the MD. He noted "We have been through these types of projects before, and what always ends up happening is that we do not get the new system we are promised. Instead, we get a modified version of the old system." The implication of his assertion is that something is missing in the way the CIO and her team had been handling system development projects in the past. Even the CIO acknowledged the MD's assertions by assuring "that this will not happen this time." In the past, the system development team had neglected understanding "what is working well and what is not." This should not be the case in any good system development. Preliminary analysis or investigation should uncover users' requirements and then conduct a thorough system analysis before the design and other stages are carried out in an iterative process.

b) I would recommend SCRUM instead of the Waterfall methodology. With Scrum, the system development project is teamwork. The team is held accountable and SCRUM utilizes iteration to achieve well-defined goals. The SCRUM framework "begins with a simple premise, starting with what can be seen or known before it tracks progress and tweaks as necessary," to achieve set goals defined by users' requirements.

Explanation:

a) System Development is a process that follows a system development life cycle (SDLC) methodology and involves these seven stages: requirement analysis, system analysis, system design, development or programming, testing, implementation and documentation, and evaluation and support.

b) SCRUM is a framework in SDLC which follows "a set of meetings, tools, and roles that work in concert to help teams structure and manage their work." SCRUM has been described as "an agile way to manage a project," especially software development because of its "iterative and flexible approaches."

c) Waterfall model, on the other hand, follows linear sequential phases of conception, initiation, analysis, design, construction, testing, deployment, and maintenance, and each stage depends on the deliverables of the previous stage. This is why "in software development, it tends to be among the less iterative and flexible approaches, as progress flows in largely one direction ("downwards" like a waterfall) through the phases."

4 0

3 years ago

What form of arbritration refers to situations where local representatives agree to comply with the arbitraters decision before

PilotLPTM [1.2K]

Answer:

binding arbitration

Explanation:

Both parties agree to be bound by the decision of the arbiter and follow the recommendations/obligations stipulated by the arbiter at the end of the process.

That bound of the two parties makes it a binding arbitration.

As opposed to a non-binding arbitration where the result cannot be enforced onto the parties, a bit like a mediation. The result is more like a discussion starting point towards a negotiation of the end of the conflict.

8 0

3 years ago