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Bad White [126]
3 years ago
5

FAW Group is an automobile manufacturer known for producing efficient, durable, and low-priced cars. Recently, the company launc

hed a new range of luxury cars to broaden its market appeal and to add prestige to its existing line of cars. This is an example of ________.
Business
1 answer:
katovenus [111]3 years ago
7 0

Answer:

Diversification

Explanation:

Diversification is a type of growth strategy that has the goal of broaden the type of products that a company offeres.

FAW Group is engaging in a diversification strategy, because it is opting to produce a luxury car, which is not typical of the company, because it specializes in low-priced, reliable cars. The goal of this strategy is to reach the higher-income people who seek luxury over cost or realibility.

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Which of the following statements is correct?
AysviL [449]

Answer:

In state welfare capitalism, the government plays an active role in regulating economic activities in an effort to smooth out the boom-and-bust pattern of the business cycle

Explanation:

Nations that adhere to capitalism on the premise of social welfare are characterized by state regulation aimed at protecting the population and ensuring a healthy standard of living. This is especially relevant because it protects citizens from economic instability. Typically, countries where social welfare works, many jobs are public, and the state has several social programs. Examples are Sweden, Norway and Denmark.

7 0
2 years ago
Which of the following is not a characteristic of money?
Llana [10]

Answer:

This question is incomplete, here are the missing answers:

<em>a. medium of exchange</em>

<em>b. unit of account</em>

<em>c. backed by a precious metal</em>

<em>d. store of value</em>

<u>The answer is </u><u>c.</u>

Explanation:

Money has three general functions (characteristics):

- <em>medium of exchange</em> - Mainly created as the substitute of barter, money has the elementary use as an intermediary when exchanging goods or services.

- <em>unit of account</em> -  In order to compare the value of certain goods and services, it is essential to measure them. This is where money applies as unit of account.

- <em>store of value </em>- Given that the money is stable (purchasing power and limited inflation), it is a general option for storing value. That means it can always be easily exchanged into goods or services, no matter the time.

According to basic elimination, <u>c. is the correct answer</u>. Also, it is also known that <em>backing money with gold</em> or silver reserves is an old practice which is irrelevant for most currencies nowadays. Today, the government is backing up the value of its currency. Such money is called <em>fiat money</em>.

7 0
2 years ago
The Allowance for Bad Debts account has a debit balance of $ 7 comma 000 before the adjusting entry for bad debts expense. After
IgorC [24]

Answer:

$17,000

Explanation:

The amount of the Allowance for Bad Debts​ account after adjustment is shown below:

= Debit balance of Allowance for Bad Debts account + uncollectible accounts

= $7,000 + $10,000

= $17,000

The journal entry is also shown for better understanding

Bad debt expense A/c Dr  $17,000

  To Allowance for doubtful debts  $17,000

(Being bad debt expense is recorded)

7 0
2 years ago
Predictions using the supply-and- demand model for used cars are likely not reliable because consumers know less than suppliers
KonstantinChe [14]

Answer:

The answer is: Not reliable because consumers know less than suppliers about used car quality.

Explanation:

Predictions using the supply and demand (S&D) model are reliable when:

  • companies sell identical products,
  • everyone involved (suppliers and consumers) has full knowledge
  • about the price and quality of the products or services being offered,
  • both the suppliers and consumers are price takers (have no control to dictate prices), and
  • the costs of trading are low

If one or more of these conditions are not met, then the S&D model wouldn´t work properly. In this specific case, the suppliers had much information about the quality of the used cars than their customers.

4 0
3 years ago
My roblox account is HiddenSerendipity
Alchen [17]
I love roleplaying in bloxburg! My user is 1_iaaa
8 0
3 years ago
Read 2 more answers
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