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gogolik [260]
2 years ago
7

Which of the following is true about specification ?

Business
1 answer:
IceJOKER [234]2 years ago
7 0

Answer:

b. Specifications should not be set arbitrarily. If you set a specification to loosely, the customer will be dissatisfied or upset with the performance of what you provided, even though it meets the specification.

Explanation:

Specification is defined as a set of requirements that needs to be met when producing a product. They give a value that seperate this product from others in performance.

Specification should be narrowly defined as this will help effectively meet the customer needs.

When specifications are too loosely defined the product might not meet customer needs.

For example if a developer requires a laptop with high processing power and the company decides to provide a more generic and lower processing power, the target customer will not be satisfied

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Amazon Prime, briefly mentioned in the case, is a subscription service that gives members free two-day shipping on hundreds of t
Leto [7]

Cheaper pricing, more attractive loyalty programmes, more convenient delivery options and better product range.

Explanation:

A website asked participants how much their average spending online is invested. Results suggest Amazon Prime subscribers buy more money overall; U.S. Prime affirms doing 53 percent of their online shopping, while Non-Prime members invest 50 percent in the United Kingdom.

As internet customers in general, they spoke to Prime members about Amazon being too strong, with 61% of British members and 69% of American Prime members claiming that they are worried with Amazon's increasing and stifling competition. Amazon is a big player.

The main reasons they asked for Amazon were: lower prices, more loyalty rewards, more flexible shipping choices and better product selection.

Prime Members quoted the main reasons they should choose another store over Amazon. In the United States 26% and in the United Kingdom 18% have reported that they enjoy interactions in-store.

4 0
2 years ago
Because your mother is about to retire, she wants to buy an annuity that will provide her with $75,000 of income a year for 20 y
siniylev [52]

The calculated present value of the annuity is $915,166.70.

Explanation and Solution:

Annuity is a collection of fixed payments made or earned either at the close or at the beginning of any term such that a significant initial payment or receipt may be turned into a set of comparatively minor payments or receipts. An annuity that lasts indefinitely is called perpetuity.

The formula for the present value of the annuity is given by:

P = \frac{1- (1+i)^{-n} }{i}  * R

Where;

R = annual payment = $75,000

i = interest rate = 5.25%

P = Present value of annuity

n = number of years = 20 years

P = \frac{1- (1+5.25)^{-20} }{5.25}  * 75,000

P = $915,166.70

5 0
3 years ago
Other things equal, an increase in productivity will Multiple Choice reduce aggregate supply and increase real output. reduce bo
leva [86]

Answer:

increase both aggregate supply and real output.

Explanation:

A rise in productivity makes it possible for each and every firm to rise the greater amount of output. due to this  aggregate supply will rise which will lead to increase in the real output.

Also the rise in productivity increase the aggregate supply and the AS curve would be shifted to right that rise the real output but reduce the level of the price in the new equilibrium output level

Therefore the above represent the answer  

6 0
3 years ago
Which of the following is NOT an assumption that economists make when developing a production possibilities frontier (PPF)?
marta [7]

Answer:

Option D

Explanation:

Because it is not one of the key assumption underlying ppf

4 0
2 years ago
Use your knowledge about the advantages of international trade to complete each sentence. International tradeeconomic growth . I
Hoochie [10]

International trade has been significant for the globalization of free trade relations.

Explanation:

International trade has been responsible for the global economic growth in the 20th and 21st century .

International trade is responsible for the specialization of goods for one country which is at the most advantage for making that particular product while being able to import the others they may need

International trade makes it so that the types of goods and services available around the world can reach any other part of the world.

3 0
2 years ago
Read 2 more answers
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