Opportunity cost is something you gave up to do the other thing you want to do. This is basically the loss of potential gain you can have on a certain alternative because of choosing the other alternative. In this problem, the opportunity cost of writing the term paper is $140 dollars. This can be break-down as follows:
a. $60 opportunity cost<span> she has given up for not</span> working<span> on her job</span>
<span>b. $80 opportunity cost she has given up for not going out with a friend</span>
2. The finance department is important in one company because it covers a wide range of activities from basic bookkeeping to providing financial information essential to the company's survival. Its role is to balance profit with cost also.
3. The marketing department plays a vital role in a company in representing the company's image and brand. They are the ones reaching out to customers, prospects, and investors.
4. <span>The customer service department's task is to keep the customers that the marketing department brought in satisfied. They handle problems, issues, queries that a customer may have, and the services they offer is extremely important for a company in a long-run.
5. In forming a new company, you will need to have workers and staffs in the marketing and finance department. Since a baby company will usually have a hard time entering a market, a skilled marketing staff is needed to market their products and services. To balance the cost of marketing and advertising also, you will need a proficient finance staff. With these two departments, you can slowly grow your company little by little.
6. Apple is an example of a very successful company in their chosen line of business. They offer <em>great customer service</em> and in-store experiences. They stay <em>two years ahead of their competitors</em>. They produce <em>easy to use </em>products which is, of course, a benefit to the customers.
7. Top three reasons for the failure of a business: mismanagement - without proper planning or standards to follow a company would be in a chaos; poor accounting or financial decision making - money is what makes a business run, having inadequate knowledge in this area will seriously affect the business; location - is the location of the business convenient for customers? Your business can be great but the location also influences a company's success.
8. An example of an employee facing a conflict of interest is when he uses his position or involvement in that company for his own personal gain. To deal with this situation, a mediator or someone of higher rank can guide or supervise. Talking it out might help but to assure that such situation won't happen again, there must be sanctions or penalties imposed to the involved employee.</span>
Answer:
A) true
Explanation:
This requirement applies mostly to used cars. Some states do not require emissions inspections for vehicles that are less than 4 or 6 years old (depends on the state, e.g. Arizona's threshold is 6 years). Other states also allow certain old vehicles to not pass emissions inspections (e.g. Massachusetts does not requires vehicles over 15 years old to pass emissions inspections).
Those vehicles that do not pass the emissions inspections will not be registered by the Department of Motor Vehicles (DMV), that means they will not receive a license plate so it is illegal to drive them.
In buying an existing business, the questions that would be appropiate for the prospective buyer to ask are the following:
- E. All of the above are appropriate questions to ask.
I was able to find the <u>complete exercise </u>online and the exercise had five options to choose from. These are the options:
- A. Is the business operating at a profit?
- B. Why are you selling?
- C. Are there any problems with the business?
- D. Will the customers stay with the business?
- E. All of the above are appropriate questions to ask.
The correct option was "E" because all the questions are not only appropiate but necessary to ask.
When buying an existing business, you need to know everything about the business and the reason why the owner is selling because it may make you change your opinion or help you make future decisions.
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The components of the information system are: hardware, software and data. Data is a collection of facts: names, street addresses, phone numbers, etc.
Answer:
Customers` names, numbers and addresses are an example of the data component of an information system.
