Answer:
Substitute Effect
Explanation:
When a product's price increases, it becomes relatively expensive compared to its alternatives. The high price will encourage consumers to choose other goods that are relatively cheaper. Consequently, the price increase reduces the demand for the product while increases the demand for its substitutes.
The substitution effect describes how consumption is affected by an increase or a decrease in a product's price.
Answer:
The equivalent units of production for the month is 11,850 units
Explanation:
The computation of the equivalent unit is shown below:
= (Completed and transferred units × completed percentage) + (ending work in progress units × completed percentage)
= (8,900 units × 100%) + (5,900 units × 50%)
= 8,900 units + 2,950 units
= 11,850 units
For computing the equivalent units,we have to consider both the units which are mentioned in the question.
Answer:
Vertical growth
Explanation:
Vertical growth occurs when a company sets up operations and distribution channels for a new product. There is an expansion from its traditional product offering.
Vertical growth aims to increase control of distribution and suppliers and scaling of product within existing line of production.
Ford motor's initiative in setting up its River Rouge Plant outside of Detroit so that iron ore could enter into one end of the plant and a finished automobile could exit out of the other end is vertical growth.
Answer: (2) Demand-side market failure
Explanation:
The demand side market failure is one of the type of market effect that basically occur due to the production of the negative response and the effect by the various types of marketing techniques like surveys and the focus groups.
The market failure demand side is one of the type of economical situation in which the customers are willing to pay for the specific products and the services in the market which is not fully capture.
According to the given question, the demand- side market failure is one of the example that best illustrating the given situation. Therefore, Option (2) is correct answer.
One of the most significant disadvantages of conducting a gap analysis or map is the loss of time and money. Typically, an organization will hire a consultant to conduct the assessment; however, participation takes valuable time away from project participants.
<h3>What is a gap analysis or map?</h3>
A gap analysis is a method of evaluating a business unit's performance to determine whether or not business requirements or targets are being met and, if not, what steps should be taken to meet them.
A gap analysis is also known as a needs analysis, a needs assessment or a need-gap analysis. Performing a skills gap analysis may increase your costs. This is due to the fact that employees frequently stop or interrupt their productivity while participating.
Learn more about gap analysis on:
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