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Fittoniya [83]
3 years ago
5

Deon is opening a car wash, and he has approached SCORE, an SBA organization that assists small-business owners in setting up th

eir companies. As a new business owner, the SCORE counselors would probably advise Deon to _____.A.) Write a business planB.) Try new things regardless of the riskC.) Get a new perspective by asking people who have failedD.) Learn from experience, the best teacher, rather than a mentorE.) Avoid developing a business plan the first year of business
Business
1 answer:
Marianna [84]3 years ago
3 0

Answer:

A.) Write a business plan

Explanation:

A business plan is a docent that describes nature of the business, growth and sales strategies, and projected profits.

It is a road map that shows how a business will be set up, how it will function to meet set goals, and financial projections that demonstrates the viability of the business idea.

Deon will have to come up with a business plan that summarises his vision of setting up the car wash. On the basis of this SCORE will make a decision about helping him start the company.

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You interview with an athletic footwear manufacturer that has annual advertising expenditures of $32 million and total sales rev
son4ous [18]

Answer:

elastic.

Explanation:

The advertising elasticity of demand measures how sensitive a market and sales are to marketing expenses. Advertising elasticity is calculated by dividing the change in quantity demanded by the percentage change in advertising expenses. Generally products with low advertising elasticity tend to have elastic demands.

8 0
2 years ago
________ is defined as a business firm's intention, beyond its legal and economic obligations, to do the right things and act in
Serggg [28]

Answer:

Social responsibility

Explanation:

Social responsibility is an obligation of a business firm to act in ways that are good to the society. A business firm must act in a way that will benefit the society.

It suggest that a business firm must be concerned about the welfare of the people in the community.

It is ethical of a business to consider the welfare of the people before taking any action in the society. This implies that, a business firm shouldn't only consider making profit or expanding their business but should take into consideration the wellbeing of the people around them.

Social responsibility is not only performed by a business firm but also the duty of every individual that is capable of impacting the environment.

Every individual and business firm should impact the environment in a positive way and Improve on the wellbeing of people dwelling in the environment.

4 0
3 years ago
Casper consumes cocoa and cheese. Cocoa is sold in an unusual way. There is only one supplier, and the more cocoa you buy from h
muminat

Answer:

The graph has been attached.

Explanation:

a. Please see attached graph with the shaded budget set labelled A

b. Please see attached. Curve C; D and E are the indifference curves. The most suitable one would be D since it is on the budget curve. E is not maximum utility and C is unattainable given his budget of $20.

c.  U (X,Y) = X + 2Y

At C, Utility = 10 + 2(10) = $30. That is above his budget

At D, Utility = 10 + 2(5) = $20. This is within his budget. – most utility.

At E, Utility = 5 + 2(5) = $15. This is below his budget.  

The Indifference curve that gives most utility is D, where cheese is 10 and cocoa is 5 units.

8 0
3 years ago
The Cole Beverage Company (CBC) has a soft drink product that has a constant annual demand of 3,600 cases per year. A case of th
skad [1K]

Answer:

a. 480

Explanation:

The computation of the economic order quantity is given below:

EOQ = \sqrt{\frac{2\times annual \ demand \times ordering\ cost }{carrying \ cost}}  \\\\= \sqrt{\frac{2\times 3600\times \$32}{\$1} }

= 480 units

The carrying cost could be determined below:

= $4 × 25%

= $1

hence, the carrying cost is $1

Therefore the economic order quantity is 480

Thus, the correct option is a.

7 0
2 years ago
There are some 200 economic integration agreements around the world today, far more than a few years ago.NAFTA, EU, Asean etc. V
kicyunya [14]

Answer:

Economic integration agreement is when countries within a particular geographical area decide to remove or relax tariff or non-tariff barriers to trade between themselves and also to coordinate and harmonize their fiscal and economic policies. Free trade area is the simplest form of an economic integration; it is when governments of member countries agree to remove trade restriction between each other and when member countries are given the freedom to determine their own external trade policies towards non-members.  

Supporters of free trade area argue that it is beneficial to the country based on the trade creation argument. Trade creation is where high-cost domestic production is replaced by more efficiently produced imports from within the group; that is, more expensive domestic products are replaced by lower priced imports from countries within the group. The trade creation argument is hinged on the fact that a free trade area ensures that trade is generated over and above what would otherwise have happened if there was no integration. Further, the removal of tariffs allows members to specialize in those products for which they have a comparative advantage leading to a variety of cheap imports for domestic consumers, thereby increasing living standards or welfare gains. Trade creation also creates an incentive for high cost domestic producers to cut cost so as to remain competitive thereby enhancing efficiency.

On the other hand, a free trade area is criticized on the basis of trade diversion. This is where trade with a low-cost country outside the group is influenced by higher–cost products supplied from within the group; this results in a less efficient allocation of resources as trade from outside the group is replaced by trade from within the group. Trade diversion could mean that local consumers would have to buy products at less competitive prices. Another argument would be that a free trade area would lead to a removal of tariff between member countries thereby resulting in a cessation of government revenue from tariffs. As opposed to a free trade area,  free trade would increase world output and employment, raise quality and lower prices of goods as firms have access to factor inputs; it will also increase world living standards or enhances welfare gains.  A free trade agreement only restricts these potential advantages to a particular geographical space.  

Explanation:

8 0
3 years ago
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