This is the full question
Choose one of the Web sites listed in the previous question and identify three ways the company has reduced its transaction costs by using a Web site to provide information. List these three transaction cost-reduction elements and write a paragraph in which you discuss one transaction cost-reduction opportunity that you believe that company has missed.
Answer:
I visited the Netflix website. I do not own a netflix account. Netflix has the following cost-reduction opporunities on its webpage:
- Clear information about the costs of the streaming service.
- Clear Frequently Asked Question section explaining about the nature of the service, and the terms of the contract in case you decide to purchase the service.
- Very nice visual interface without clutter.
One transaction cost-reduction opportunity that Netflix is missing though is:
- Lack of a preview to see what shows and films are available.
Answer:
The correct answer is letter "C": natural resources.
Explanation:
Factor endowment refers to the factors of production -<em>land, labor, capital, and entrepreneurship</em>- a nation has available for manufacturing. Countries with more factors of production available tend to be richer than those that do not. Possessing more factor endowments available can also play a key role for countries to establish a comparative advantage compared to other nations.
Therefore, <em>American economist Michael E. Porter (born in 1947) is likely to consider natural resources a basic factor endowment while skilled labor force, for instance, would be considered as an advanced factor of production. </em>
Answer: True
Explanation:
Marginal benefit is the maximum amount that a consumer will be willing to pay for an extra product. It should be known that as consumption rises, the marginal benefit starts reducing.
The marginal cost is the extra cost that a producer incurs when an extra unit of a product is made. Economic decisions made by economic agents are typically based on marginal as it'll be possible to know the impact of an extra decision made on a variable.
Therefore, it is better to evaluate economic decisions at the marginal, where the decision has to be made as long as its marginal benefit exceeds its marginal cost, if not equal to its marginal cost.
Answer:
$9,360
Explanation:
Cost Retail Ratio
Inventory, May 1 $10,440 $14,500 .72
Purchases 31,550 42,900
Freight-in 2,000
Purchase discounts (250)
Net markups 3,400
Net markdowns (1,300)
Totals excluding
beginning inventory 33,300 45,000 .74
Goods available $43,740 59,500
Sales (46,500)
Inventory, May 31 $13,000
Estimated inventory,
May 31 ($13,000 × .72) $ 9,360
The statement that is an effective strategy for personal saving is; Save a certain percentage of each paycheck and deposit it directly in a savings account
<h3>What is personal saving?</h3>
Personal saving can be defined as the ability of a person to save their money. Saving this money will enables them to have something to fall back to incase of unforeseen or unexpected circumstance.
The effective strategy for personal saving a person is expected to follow is for the person to save a percentage of each of their salary or paycheck and deposit the money directly into their savings account.
Therefore the statement that is an effective strategy for personal saving is; Save a certain percentage of each paycheck and deposit it directly in a savings account
Learn more about personal saving here:brainly.com/question/15279000
#SPJ1
