One fundamental feature of money is its use as a medium of exchange. Sellers of commodities are to exchange their commodities for a particular monetary sum.
This sum is the monetary value of the items as determined by the seller.
As a unit of accounting, money is used to compare the value of one item or commodity to another.
As such, the price tag of $4 for a portable power bank is an example of money as a medium of exchange.
The obstacle to defining the research problem was that the company failed in collecting quantitative data /Selection of inappropriate respondent resulted in wrong output.
Explanation:
A research design is a blue print that a company prepares for conducting marketing research .
A firm collects quantitative data by conducting surveys and asking the customers or consumers to fill the forms (questionnaires).These surveys and questionnaires helps the company in making product related decision in various markets.(i.e how to customize the product as per the taste and the preferences of the consumers)
<u>The obstacle to defining the research problem was that the company failed in collecting quantitative data /Selection of inappropriate respondent resulted in wrong output.Hence the company Refrez Inc failed to acknowledge the fact that people in the United States eat cereal with cold milk, whereas the people of China eat cereal with hot milk.</u>
As a result, Refrez Inc witnessed a decline in sales of its product in Chinese market .
The correct answer is letter "B": A moderately favorable situation in which Sharon’s relationships with her employees are strained, but where the employees are still doing highly structured tasks.
Explanation:
Austrian organizational psychologist Fred Fiedler (<em>1922-2017</em>) proposed in his Theory of Contingency that leaders only have one leadership style and that they cannot shape it according to the different situations they might be involved in. Instead, leaders must be located in a situation that matches their style.
Since Sharon's leadership style is <em>autocratic</em>, she is likely to manage herself better in adverse situations where the subordinates still follow her instructions.
Ambiguity because the reason is that "The goal is not clear, and neither is the solution". (Option D)
Explanation:
Ambiguity is the situation in which the management is not clear about the solution and setting goals though their are number of options are available.
The reason is that the goal is not clear here and Gawain is uncertain how to resolve the problem. In such situations the researcher must contact his senior level management and ask for guidelines which addresses what should Gawain prefer to do, make bottles bio-degradable or make chemicals research which makes the water taste better.
