Answer:
1. Firms are operating in the short run - relatively inelastic
2. Firms would have a hard time storing their goods - relatively inelastic
3. Firms have a large amount of excess capacity - relatively elastic
4. Firms can easily relocate from one location to another - relatively elastic.
Explanation:
The price elasticity of supply is less in the short run than in the long run. In the short run supplier does not have enough time to adjust the production level so supply is inelastic. The firms facing hard to store their goods then the supply is inelastic. If the firm has spare capacity available then the supply is relatively elastic because supplier can produce more if the demand is greater. The mobility factor also effects elasticity, if firm can easily relocate itself then the supply is elastic.
Answer: A. You would raise your policy premium substantially and Sam would not accept because he doesn't know about the Japanese.
Explanation:
In such a scenario as the one described above, the best option as an Insurance Agent is indeed to raise premiums substantially.
As the Japanese will most probably get to market first with the new Mayonnaise Substitute, they will have the rights to it's invention and could even patent it.
This means that Sam and SCAM will most likely suffer a loss as a result of this.
As there is such a high chance of loss, charging a substantially higher premium to enable coverage is only logical and makes business sense.
Sam does not know however that the Japanese are so far ahead and having rejected a substantially lower offer, will reject the newer, substantially higher one as well.
Answer:
A) Proactiveness.
Explanation:
This explained to be a conceptual development in entrepreneurial orientation that enacts a degree of anticipation in product and also increase a productivity in the entrepreneurial sphere. Some undiluted descriptions shows it to be the introduction of results based on its qualitative study, which is been aimed at the characterizing of the proactiveness in entrepreneurial software firms. Experienced researched organizations has shown that the one which are related to environment monitoring and opportunities quest been highlighted are also core part of proactiveness.
Answer:
SIMON COMPANY'S YEAR END BALANCE SHEET
AT DECEMBER 31 Current 1 yr ago 2 yrs ago
cash 6.1% 8.1% 9.90%
Accounts receivables 16.6% 14.1% 13.2%
inventory 21.5% 18.9% 14.6%
prepaid expense 1.8% 2.1% 1.1%
plant asset 54.0% 56.8% 61.2%
Total Asset 100.0% 100.0% 100.0%
Liabilities and Equity
Accounts payable 24.4% 17.1% 13.2%
Notes payable 18.6% 23.0% 22.5%
common stock 28.5% 33.1% 40.5%
Retained earnings 28.5% 26.9% 23.8%
total 100.0% 100.0% 100.0%
2) The change in % of accounts receivables is unfavorable because this means that our Debtors are not paying instead are continuing to buy on credit and that our collection methods are weak and ineffective.
3) The % change in inventory is unfavorable because it means we are selling less stock as years goes by and that we are buying more than we are selling.
Explanation:
Answer:
B. False
Explanation:
Convenience products refer to those products whose purchase is very convenient or comfortable and requires little time and efforts of the buyers. Such products are frequently purchased by the buyers. Examples of such products would be soaps and detergents, sugar and magazines, etc.
Shopping products on the other hand, are those products that are purchased less frequently and often require comparison between other available alternatives and variants. Such products demand time and efforts on the part of the consumer. Examples are clothing, electronic items such as smartphones, shoes, etc.
In the given case, Inez assigns high importance to her makeup. Thus it is evident, she's particular about her make up items and would spend a considerable time in deciding and selecting a particular make up item.
As is stated, she is particular about colors, prices, skin tones and other factors, make up would classify as a shopping product.
