Economists have identified four types of competition. Perfect competition, monopolistic competition, oligopoly, and monopoly.
Answer:
The economic order quantity to order for Mr Ben Bar and Restaurant is 7417 bottles
Explanation:
Annual demand D = 6,600 bottles
Ordering cost S = $25
Purchase price = $4
Holding cost = 15% of purchase price
Weekly demand = 132 bottles
Standard deviation = 20 bottles
Lead Time = 2
Using the EOQ model to find out economic order quantity for Mr Ben's Bar and Restaurant
Qopt = ......................(1)
Substitute the values in equation
Qopt =
Qopt =
Qopt = 7416.6198
Qopt = 7417 bottles
Hence, the economic order quantity to order for Mr Ben Bar nd Restaurant is 7417 bottles
Answer:
Aids to trade includes Transport, Communication, Warehousing, Banking, Insurance, Advertising, Salesmanship, Mercantile agents
Explanation:
Trade promotion organizations in a country and Global organizations for international trade. These important auxiliaries ensure a smooth flow of goods from producers to the consumers.
Had to look for the missing options and here is my answer.
Based on the given description above as done by Steve Cohen, I can say that what he is providing to the employees is PERFORMANCE FEEDBACK. This is because he is discussing to them the results of their performance as well as giving them rewards if needed. Hope this helps.
Answer:
d. All of the above
Explanation:
A budget can be defined as a financial plan of estimated revenues, resources and expenses over a specific period of time in a particular country. It is usually reevaluated based on future plans and objectives periodically, typically on an annual basis. Thus, budgets are usually compiled, analyzed and re-evaluated on periodic basis.
Budgeting competency requires the ability to:
a. Define the production system.
b. Quantify expected operations in dollars.
c. Analyze actual results considering the budget to determine where costs were better or worse than expected.
Additionally, the first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.
The final step by the management of an organization in the financial decision making process is making necessary adjustments to the budget.
<em>The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies. </em>