Answer:
Anyone who is injured by a defective product may sue the manufacturer, merchants and all others who handled the product.
Explanation:
Strict liability is a legal doctrine that holds a person responsible for the damages or loss caused by his or her acts or omissions. In torts, strict liability is the doctrine that imposes liability on a party or person without a finding of fault. A finding of fault would be negligence or tortious intent.
Strict liability is an important factor in maintaining safety in high-risk environments by encouraging individuals, employers, and other parties to implement the means to prevent injuries and damages. Construction, manufacturing, and other potentially dangerous work settings are typically subject to strict liability.
Answer:
a. Increased consumption , which shifts the aggregate-demand curve right.
Explanation:
When there is a boom in stockmarket which makes people wealthier, people's consumption would increase because of the desire and availability of money to purchase goods, which results in demand curve shifting right.
The boom in the stockmarket means people investment has appreciated hence are able to save and increase their consumption spending.
A shift in demand curve to the right means an increase in the quantity demand of goods and services while a shift in demand curve left means a decrease in the quantity demand of goods and services.
Other factor that could cause increased consumption and shifts in aggregate demand curve right is tax decrease. Tax is a compulsory levy imposed on an individual or an organization by the government.
When there is a tax decrease, people would be able to save more thus increase their desire to consume more hence demand curve would shift to the right.
When adjusting the price of an established product, Jackie should have knowledge of the pricing considerations and strategies
<h3>What are the different types of pricing strategies?</h3>
There are 4 types of pricing strategies as follows :
- Premium pricing strategy
- Skimming pricing strategy
- Value pricing strategy
- Penetration pricing strategy.
In the aforesaid scenario, Jackie will employ a value pricing approach, in which he will reduce the product's cost in order to attract buyers, hence increasing the product's perceived worth.
Thus,
Pricing strategies information should be considered before introducing any changes in the price of the product.
Learn more about Pricing:
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Answer: (C) Category management
Explanation:
The category management is one of the strategic approach process that manage all the retailing and the purchasing business in an organization.
In the category management the various types of products and the services are purchased by the specific organization.
The main advantage of the category management is that it provide greater satisfaction to the client and also provide the efficient supplier relationship and the performance.
Therefore, Option (C) is correct.
Answer: $844,000
Explanation:
Given that,
Beginning work in process inventory = $270,000
Cost of goods manufactured = $866,000
Beginning finished goods inventory = $332,000
Ending work in process inventory = $310,000
Ending finished goods inventory = $354,000
Cost of goods sold = Beginning finished goods inventory + Cost of goods manufactured - Ending finished goods inventory
Cost of goods sold = $332,000 + $866,000 - $354,000
= $844,000
∴ Cost of goods sold = $844,000
