Answer:
2) the time consumers save when purchasing goods there.
Explanation:
Their name explains everything. A convenience store is a store where someone can go and purchase goods easily and without any type of difficulty.
Of course a Walmart is cheaper, but will you travel 20 minutes just to get there, and spend 20 more minutes choosing and paying for a cheap good like a Coke, and then 20 more minutes back home. Whatever you save on buying the Coke, you will spend 50 times more in gas and personal time.
So even if a Coke costs $1 more in a 7-Eleven, it is worth it. You will save a lot of money by purchasing your Coke there.
Oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence. A monopoly is one firm, a duopoly is two firms and an oligopoly is two or more firms.
Answer:
The average collection period is 56.25 days
Explanation:
The average collection period is the number of days' sales in receivables and calculated by using following formula:
The number of days' sales in receivables = 360/Accounts receivable turnover ratio
Accounts Receivable Turnover = Net Credit Sales/Accounts Receivable
Net Credit sales = Total Sales - the sales are for cash = $1,800,000 - 20% x $1,800,000 = $1,440,000
Accounts Receivable Turnover = $1,440,000/$225,000 = 6.4 times
The number of days' sales in receivables = 360/6.4 = 56.25 days
Answer:
3) physical-asset specificity
Explanation:
In a business to business relationship, physical asset specificity refers to an asset, or product or service designed to fit a particular or specialized customer's need.
In this case, True Tomato needs a very specific type of bottle that probably no other ketchup manufacturer may use or want to use. So their bottle supplier specifically manufactures the tomato shaped bottle to meet True Tomato's specific requirements.
