The demand for ben & jerry's ice cream will likely be more price elastic than the demand for dessert.
<h3>What is the elasticity of Demand?</h3>
When all other conditions are equal, the elasticity of demand is a concept in economics that quantifies how responsive consumers are to shifts in the quantity desired as a result of a price adjustment. In other words, it demonstrates the number of things consumers are willing to buy as the cost of those products rises or falls.
By dividing the percentage change in quantity by the percentage change in price during a specific period, the elasticity of the demand formula is computed. It appears as follows:
Elasticity is defined as % change in quantity / % change in price.
The quantity demanded as a result of a percentage change in a product's price is hence the measure of demand elasticity. Demand can be elastic or inelastic depending on whether products' demand is more responsive to price fluctuations. When a product's demand is flexible, the desired quality is extremely responsive to price variations. When a product's demand is rigid, the desired quality does not adapt well to price variations.
Therefore, The demand for ben & jerry's ice cream will likely be more elastic than the demand for dessert.
For more information on the elasticity of demand, refer to the following link:
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Answer:
franchisor; franchisee
Explanation:
Franchising is the system for the expanding business and distributing the goods and the services to meet the higher demand.
Franchisor is the big name and big company or business which offers small business for franchising in order to gain profits and expanding business.
Franchisee is small business owner who has purchased right to use existing business's trademarks and then uphold same standards as first business.
Hence, in the given case, Dog N' Cat is the <u>franchisor</u> and you are the <u>franchisee</u>.
Answer:
Year 2014 Year 2013
a) Inventory Turnover ratio 3.4 times and 3.1 times
b) Number of days' sales in inventory 107.3 days and 117.7 days
Explanation:
As per the data given in the question,
As we know that
Inventory turnover ratio = Cost of goods sold ÷ Average inventory
where,
Average inventory
= (Beginning inventory + ending inventory) ÷ 2
For Year 20Y4 :
Average inventory = ($359,160 + $516,840 ) ÷2
= $438,000
And, the cost of goods sold is $1,489,200
So,
Inventory Turnover ratio
= $1,489,200 ÷ $438,000
= 3.4 times
For Year 20Y3 :
Average inventory = ($251,120 + $359,160) ÷ 2
= $305,140
And, the cost of goods sold is $945,934
So,
Inventory Turnover ratio
= $945,934 ÷ $305,140
= 3.1 times
Now
Number of days' sales in inventory = Number of days in a year ÷ Inventory Turnover ratio
For 20Y4
= 365 days ÷ 3.4
= 107.3 days
For 20Y3
= 365 days ÷ 3.1
= 117.7 days
Basically we applied the above formulas
Green computing is an efficient and Eco-friendly use of computers and other electronics. Eco-friendly or environment friendly are marketing terms and sustainability that referring to goods, services, policies and guidelines that reduce or minimize any harm on the ecosystem or environment. Green computing involves study of designing, manufacturing, using and disposing of computing devices in a way that does not harm the environment.
Answer:
C. health maintenance organizations
Explanation:
Healthcare intermediaries organizations that form links between small-scale providers to interact with governments, patients and vendors. These organizations can perform key health systems functions which are typically more challenging for individual private providers to do on their own. An individual pays the health maintenance organisation in advance for medical care that he may require in the future and the organisation provides medical care to the individual when the need arises. These organisations are able to provide this care by paying doctors affiliated to them, and other healthcare providers who deliver care to the patients
