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Illusion [34]
3 years ago
13

Which factor sets the ceiling on setting a​ product's price?

Business
1 answer:
Lemur [1.5K]3 years ago
7 0

Customer's perceptions set the price ceiling - if they see the price as too high they won't buy it, demand will fall, and so will the equilibrium price. Their perception on the fairness of the price will affect how high the price can go before losing sales.

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What can organizations do to keep rewards individualized enough to meet various employee needs (needs theory) while trying to en
julsineya [31]

Answer:

The best way to go about this is to design and operate and rewards system that recognizes individual needs as summarized and proposed by David McClelland.

The theory of equity on the other hand speaks to the perception of how input is compensated for in relation to those of others. Human beings (workers) will come with varying degrees of skills and input.

So to customize rewards in such a way that it recognizes unique contributions in an equitable way, one must first decide what key skills will be required for each job and which jobs are required to achieve organizational goals and objectives.

Explanation:

The Needs Theory by David Mclelland summarizes individual needs into three. They are:

  1. Achievement
  2. Affiliation
  3. Power

A balanced reward system will have financial and non-financial benefits. some of the non-financial benefits will be tailored to have the above components.

- Achievement: An example of this is - Opportunity for higher assignments

- Affiliation: The need to belong to a strong Employer brand

- Power: This answers the question about whether or not one will become more influential as they progress with the company

The equity theory will guide the business owner in ensuring that all selected metrics of input are classed and priced accordingly.

The usual form of input include but are not limited to:

  • Ability
  • Adaptability
  • Commitment
  • Determination
  • Education
  • Effort
  • Enthusiasm
  • Experience
  • Flexibility
  • Hard Work
  • Loyalty
  • Personal sacrifice
  • Skill
  • Support from co-workers and colleagues
  • Time
  • Tolerance
  • Trust in supervisors

Equity sometimes is difficult to achieve due to issues with capacity on the part of the company. Best practice, however, is to recognize equity first from the perspective of standard industry practice, then match or exceed such offering by a combination of Financial and Non-Financial rewards that are based on the strength of the organization.

Another strategy is for organizations to adapt it's reward systems to  Achievement Based Compensation. This type of compensation instead of focusing on the inputs listed above focuses on results.

In this case, expected results and capacity to deliver and subsequent rewards on same are discussed and agreed upon.

Minimum requirements are also defined ahead of time. Under this kind of structure, equity is achieved, and individual needs are recognized.

Cheers

4 0
2 years ago
These workers state the "only thing they have is their work". This statement suggests that without this work, they would have a
sattari [20]

Answer:

Explained

Explanation:

Even if the workers have the work only to rely upon, they do not deserve to be treated with disdain, bias and victimization as mentioned in the case.

The values, whether they belong to western or eastern societies, do not allow anyone to work under forcible and inhuman conditions.

For a sportswear giant like Nike, it is the exposure to harsh reality of its partners in the developing world, and a shame that it could not detect, monitor and control the code of ethics it follows back home.

7 0
3 years ago
Which is a disadvantage of having a traditional economy?
saul85 [17]
The best and most correct answer among the choices provided by your question is the second choice or letter B. A lower standard of living one of the disadvantages of having a traditional economy.

Traditional economy is an original economic system in which traditions, customs, and beliefs shape the goods and the services the economy produces, as well as the rules and manner of their distribution. Countries that use this type of economic<span> system are often rural and farm-based.
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I hope my answer has come to your help. Thank you for posting your question here in Brainly.



7 0
3 years ago
Read 2 more answers
If a nation has gdp of $12,500 billion and gdp per capita of $62,500, what is the nation's population?
ira [324]

$12,500,000,000/$62,500 = 200,000,000

What Is the GDP Per Capita?

A country's economic output is broken down by its per-capita gross domestic product (GDP), which is derived by dividing the GDP by the population.

By dividing a country's GDP by its population, the per capita GDP may be used to measure a nation's economic production per person.

Economists use it along with GDP to examine a country's prosperity based on its economic growth. It is a global indicator of a country's level of prosperity. It is frequently evaluated alongside GDP, enabling economists to compare the productivity of different nations. The analysis of the global per capita GDP offers information on the health and trends of the world economy. The greatest per capita GDPs are typically found in small, wealthy countries and more advanced industrialized nations.

A comparative understanding of economic prosperity and global economic advancements can be gained by analyzing GDP per capita on a global scale. The per capita calculation takes into account both GDP and population. Therefore, the highest GDP per capita may or may not be found in the highest GDP countries.

To lean more about GDP Per Capita from the given link.

brainly.com/question/18414212

#SPJ4

8 0
1 year ago
Recording partner's original investment Instructions Kimberly Payne and Arionna Maples decide to form a partnership by combining
levacccp [35]

Answer and Explanation:

The Journal entry is shown below:-

Cash A/c Dr, $20,000  

Accounts Receivables A/c Dr, $140,000

($145,000 - $5,000)

Inventory A/c Dr, $101,700  

Equipment A/c Dr, $81,200.

     To Allowance for doubtful Accounts $4,400

     To Payne's Capital A/c $338,500

(Being assets contributed by partner in business is recorded)

For recording the assets contributed by partner in business we simply debited the cash account, accounts Receivables, Inventory and Equipment as increase the assets while we credited the Allowance for doubtful Accounts as it decreasing the assets and Payne's Capital as increasing the stockholder equity.

7 0
2 years ago
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