Answer:
Demand relationship is the relationship between the dominant prices of a good and the quantity that will be bought at that price.
Explanation:
Demand can be defined as the quantity of a good that consumers are ready to purchase at different prices at a given period of time.
The basic demand relationship is between potential prices of a good and the quantities that would be bought at those prices. The relationship is always a negative one, this implies that an increase in price will lead to a decrease in the quantity demanded. This negative relationship is represented in the downward slope of the consumer demand curve. Take for instance, if the price of a bag of rice rises from $10 to a price of $20, this is a huge price increase. This increase forces the consumer to demand less of that product at the price of $20 because the new price is more expensive and also very unreasonable for a bag of rice.
Answer:
Disruptive innovation.
Explanation:
Disruptive innovation is one that creates the way a market operates, that is it creates a new market and disrupts the old one. Existing firms and products are displaced.
In this instance when Futura Inc. introduced an automobile that could run completely on electricity for longer periods of time than any other electronic or hybrid automobile, it introduced a product that will cause disruptions in the current automobile industry.
Although there was challenges of frequent repairs, this was eventually resolved.
Answer and Explanation:
The preparation of the operating activities section is presented below:
Cash flows from operating activities
Net income $374,000
Adjustments made
Add: Depreciation $44,000
add: Amortisation expanses $7,200
Add: Accounts receivable decrease $17,100
Add: Inventory decrease $42,000
Less: Prepaid expense increase -$4,700
Less: Accounts payable decrease -$8,200
Add: Wages payable increases $1,200
Less: Gain on sale of machinery -$6,000
Net cash provided by operating activities $466,600
Answer:
Just-in-time inventory management
Explanation:
Just-in-time or JIT is an inventory management approach that encourages the purchase of materials only when they are needed in the production process. The JIT approach eliminates the need for storing large quantities of material for future productions. The acquisition of materials is aligned with the production process.
By adopting JIT, a business saves on inventory costs as materials are not purchased in bulk. Wastage that results from the storage of material is also eliminated. The success of JIT depends on management ability to forecast sales accurately and working with reliable suppliers.
A competitive advantage is picked up when a firm procures ascribes that enable it to perform at a more elevated amount than others in a similar industry. Building up a maintainable, upper hand requires client dedication, an awesome area, one of a kind stock, legitimate dispersion channels, great seller relations, a notoriety for client benefit, and different wellsprings of favorable position. On the quality of data above, Rice Epicurean ought to build up a Customer Relationship Management framework for observing client inclination, devotion, and input
