Answer:
Elastic
Explanation:
Elasticity of demand = percentage change in quantity demanded / percentage change in price
25% / 20% = 1.25
If the elasticity of demand is greater than one ,it means demand is elastic.
Elastic demand is when a change in price leads to a greater change in quantity demanded.
I hope my answer helps you
Answer:
Explanation:
A) Lean production basically focuses on using all of the waste that a company produces in all of its processes so that no actual resources are left unused.
B) In this scenario, this can be achieved by using all of the excess baking mixtures and combining them into extra products as well as recycling used containers.
C) Carlos could either lower costs by using cheaper materials or hire more employees.
D) Batch production allows Carlos to produce large quantities of his products at a much faster and therefore more efficient pace. This also increases profits as they have more supply to match the demand.
E) This depends on whether or not Carlos has sufficient demand for his products. Otherwise, he would waste large amounts of money on implementing a flow production method and then not have enough demand to sell all of his products, which will therefore cost him even more money in losses.
Answer:
(Note please, the background of L.L. Bean was not stated. I am answering on a general note.)
L.L. Bean empowered its employees to make independent decisions that ultimately have financial consequences so as to save time needed to consult superior authorities for directions.
Explanation:
In the course of business, some customers might have needs and inquiries that have to be responded to on the spot so that they do not lose their patience and move to other competitors.
When an organization empowers its employees to make independent decisions that might affect the company financially, it is in a bid to serve the customers better by saving their time. This also instills trust and confidence in the company because the employees are knowledgeable of their services.
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Answer:
A failure of the financial sector.
Explanation:
Financial sector indicates all banks and non-banking institutions. These sectors are the source of money supply in an economy. If this sector fails to do such work, the economy might face severe money crisis and the effect would be immediate. An example of it is 2007-08 depression in the US economy.
