1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Harrizon [31]
3 years ago
9

Cell phone companies found that when they raised the price of connecting to wireless hot spots, demand decreased more than propo

rtionally among casual users but decreased less than proportionally among businesspeople. this is because wireless connectivity is a(n) ________ good for casual users but a(n) ________ good for businesspeople.
Business
2 answers:
Natali [406]3 years ago
8 0

This is because wireless connectivity is an inelastic good for casual users but an elastic good for businesspeople.

Further Explanation:

Inelastic Good: The inelastic goods are those goods whose demanded is not affected by the change in the prices. If the price of the goods increases, then the quantity demanded almost remain the same.

Elastic demand: The elastic goods are those goods whose demanded is affected by the change in the prices. If there is an increase in price of the goods, the quantity demanded also changes.

The wireless hot spot is a non-essential good for casual users that are the reason they have an inelastic demand for the wireless hot spot. It means that demand will not be affected by the change in prices. In the case of a businessman, it is an essential good which means the quantity demanded will be affected by the change in prices.

<u>  Therefore, wireless connectivity is an inelastic good for casual users but an elastic good for businesspeople. </u>

 

Learn more:

1.   Learn more about the profit margins

brainly.com/question/10218300

2. Demand and supply of goods

brainly.com/question/11045011

3.  Elasticity of demand

brainly.com/question/2396092

Answer details:

Grade: Middle School

Subject: Economics

Chapter: Elasticity of demand

 

Keywords: cell phone companies, price of connecting, wireless hot spots, demand decreased, casual users, businesspeople, wireless connectivity,  inelastic good, elastic good, the elasticity of demand, wireless connectivity is a(n), elasticity, inelastic, economics.

Maru [420]3 years ago
7 0

Answer:  Cell phone companies found that when they raised the price of connecting to wireless hot spots, demand decreased more than proportionally among casual users but decreased less than proportionally among businesspeople. this is because wireless connectivity is a  <u>luxury or non-essential</u> good for casual users but an <u>essential</u> good for business people.

Casual users tend to use the wireless if and only when they can afford it i.e. it is not an essential commodity for them. That is why, the demand decreased more than proportionally among casual users, when prices increased.

On the other hand, wireless hotspots help business people to get their work done in a speedy and efficient manner. So wireless hotspots become more essential to business people. Therefore the demand is relatively inelastic for connectivity and falls less than proportionally for business people.

You might be interested in
Marking brainliest! What is an example of a public corporation?
stepladder [879]

Answer:

Library

maybe

probably because many people

5 0
2 years ago
Read 2 more answers
To measure the strength of a currency, you can
ZanzabumX [31]
C. Foreign

The face value of a currency compared to its purchasing power against other (inter)national currencies determines the currency’s strength
4 0
2 years ago
Read 2 more answers
You have been given $100 to start a checking account. Considering the four P's discussed in the module, go online to research an
Anestetic [448]

Answer:

The four Ps happens to be the four significant factors that come into the vicinity when certain service or the good is being marketed with the public as the buyer. And the four Ps are product, price, promotion and the place. We need to select the bank which is nearest to us, and about which we have heard a lot and are confirmed about good service. The $100s checking account is not going to print interest for us, but we need 24 x 7 service as its a sort of current account, and we need to do the daily transaction through it. And hence the bank should provide all the time good service, and most probably 24 x 7 service. And this defines their product. Also, they should charge the least service charge, and that is the price. The bank which best fit according to above 4 p's, is the bank I will choose.

Explanation:

Please check the answer section.

6 0
2 years ago
1. Based on the above article, if you were an entrepreneur, which sector would fit you the most? Justify your answer by conducti
natita [175]

Answers:

1) As an entrepreneur, I would go the route of providing online fitness services combined with healthy foods that go with specific body types.

Feasibility

Justification: As people become more and more sedentary due to social distancing, a new health problem arises.

The human body was not built to be redundant. I was built for healthy activity. Exercising protects the heart and facilitates blood circulation. The increased blood flow boosts the levels of oxygen in the body.

When this happens, the risk of heart diseases such as high cholesterol, heart attack and coronary artery disease is reduced. Regular exercise can also reduce your blood pressure and the levels of triglycerides.

Exercising without eating properly also translates to serious health problems such as stamina, strength, and weight loss. So, providing consultative services on what to eat and how to eat them and who should eat what is a great complimentary add-on to the health and fitness service.

<em>Who needs the service?</em>

Except for those with serious health issues such as heart conditions, kidney diseases, etc everyone can and should exercise to prevent them becoming overweight.

People who will be able to afford our services going from the above analysis would fall in between middle income to High Net-worth Individuals.  

We will also be looking at businesses who would be interested in purchasing health/wellness programs such as ours for their staff.

<em>Why will they buy?</em>

We'd be providing continuous health tips, great eating habits and foods which are medicinal when eaten rightly.

Besides the cost of subscribing to our services and the cost of the recommended food types, and perhaps data subscriptions (which most already have) there is no other cost involved. There won't be a need for gymnastics equipment because our method of fitness training does not require such. It depends on the use of the body's weight. This is called Callisthenics.

<em>Our Unique Selling Point</em>

We will have in our employment, nutritionists with whom they can consult on the go depending on the type of subscription they opt for.

We will also have dedicated customer care personnel whose job will be to motivate and encourage clients towards their health and fitness goals

We will also have psychologists who will help people with body insecurity needs depending on which package they sign up for.

Assuming we charge a total market of 20 Million Americans who will sign up and pay $10 every month, that comes to two hundred million USD annually.  

We also charge for specialised services using the normal wage rates but not more than $10 per hour. This is to ensure that everyone buys into the program. 40% of our revenue will go into operational expenses including lump-sum payments monthly depending on initial sales.

Given the draft feasibility above, the company stands to make at least 60% of its income as profit when the market is fully developed and that comes to about $ 120 Million.

Besides investing in our staff, we'd invest in a great digital camera, mini studio and ancillary equipment for pre-recorded training.

2. Porter's 5 forces are:

  • The risk of new players
  • The risk of substitute products
  • Power of suppliers
  • Power of customers
  • Industry Competition

 

The risk of new players entering the market is significant. It all depends on the quality of expertise one is bringing on board. Many of our trainers are going to be people with many years of experience, sound academic qualifications and great results.  

The risk of substitute products /services.  As already stated above, our well-experienced trainers will have a profile that is difficult to surpass.

The risk of suppliers usurping our model is very low. We plan to build our network to gain very quickly loads and loads of followers in their millions such that we become a great platform for suppliers of vitamin supplements, healthy packaged food products etc to sell their goods.  

Customers are always king. They hold the key to the business. That is why we will have highly trained, kind, professional, customer care personnel to cater to the needs of our clients.

Industry Competition: This is to be expected. To win the competition, we will adopt the differentiation strategy, and cost focus strategy while delivering quality care.

3. Given the above, I strongly believe that it is possible to enter with a niche strategy. There were loads of chat services which entered the market when it looked saturated but have now broken through. Our strategy in terms of pricing will be crafted such that it fits our market entry model.

4. At the time of writing this, I definitely would consider launching a business in this sector. The opportunities are enormous. It is a global market which requires specialised training. Total cost of set-up is on the low side and potential profit is very high.

Cheers!  

Download txt
6 0
3 years ago
Which of the following statements regarding a balanced scorecard is correct? Multiple Choice A balanced scorecard includes non-f
Fynjy0 [20]

Answer:  All of these are correct answers.

Explanation: In simple words, Balanced scorecard refers to the strategic management system in which the organisational tries to communicate to the stakeholders what is their ultimate goal and what are they trying to establish.

In such a process, the managers of the organisation translate their mission statement relating to various aspects of customer service and declares their course of actions regarding the activities that really matters to the customers.

Hence from the above we can conclude that all the statements are correct in the given case.

4 0
3 years ago
Other questions:
  • Select all that apply.
    12·2 answers
  • Manufacturing output in the u.s. continues to increase. the high unemployment of skilled workers who previously worked in the ma
    7·1 answer
  • olga fjord sells computers. she earns a 4.5% commission on sales. how much must she sell in order to earn $9000
    5·1 answer
  • Surgery Center is an outpatient surgical clinic that was profitable for many years, but Medicare has cut its reimbursements by a
    14·1 answer
  • Consider the economies of Blahnik and Gribinez, both of which produce glops of gloop using only tools and workers. Suppose that,
    11·1 answer
  • If prices are rising and a company's physical inventory levels are unchanged, the use of FIFO rather than LIFO for inventory val
    14·1 answer
  • Name any two means of receiving employment information other than the means of mass communication. how can we receive informatio
    12·1 answer
  • If the reserve ratio increased from 10 percent to 20 percent, the money multiplier would a. rise from 10 to 20. b. rise from 5 t
    12·1 answer
  • Net sales for a company are $250,000. Average accounts receivable are $10,000. The accounts receivable turnover for this company
    5·1 answer
  • On August 1, Hanes Co. determines that it cannot collect $150 from a customer. Hanes uses the direct write-off method. Hanes wil
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!