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Answer:
The answer is d. Centralized purchasing is where individual, local purchasing departments, such as at the plant level, make their own purchasing decisions.
Explanation:
Centralized purchasing is a purchasing system in which all the departments of a company with a wide geographical distribution can make purchases through a common purchasing organization.
If a firm's marginal costs <u>fall</u>, then its <u>price falls.</u>
This is based on the principle that if the marginal cost of a product or firm rises, that implies that the firm is operating at a high fixed cost, thereby leading to an increase in the cost of production, which generally equates to products having a high price.
On the other hand, where there is low marginal cost, production costs reduce because the products are being produced at a lower fixed cost. Thereby leading to lower prices.
Hence, in this case, it is concluded that "If a firm's marginal costs <u>fall</u>, then its <u>price falls</u>."
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Society can attain a higher degree of specialization without the use of money than it can with money. The given statement is false.
In order to become more effective, specialization in business is concentrating on a single product or a small range of items. Specialization can boost productivity and give a company or economy a competitive advantage.
A speedier, more efficient workflow is the outcome of each person being able to give their particular task the degree of focus they are capable of. Through specialization, a worker can leverage their education and work history to speed up procedures and boost sales.
One nation might, for instance, be a specialist in growing coffee beans, giving it a competitive edge. Additionally, it can enable this nation to use its current resources to create a sizable quantity of high-quality coffee beans.
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An important use of customers' lifetime value data (CLVD) is all of the options. Option A is correct.
<h3>What is customer lifetime value data?</h3>
Customer lifetime value (CLV) is amongst the most important metrics to measure as a component of a customer experience journey. Customer lifetime value (CLV) is a metric for determining how important a client is to your business, not just for a single transaction, but for the entire relationship.
It's a crucial measure since keeping existing customers costs less than acquiring new ones, thus boosting the quality of your existing customers is a fantastic method to generate growth.
Knowing the Customer lifetime value (CLV) may help organizations establish strategies for:
- Acquiring new consumers and
- Retaining existing ones,
While keeping profit margins intact.
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