Inventory turnover rate = 8 times
Cost of goods sold = $150,000
Then the average inventory of company is $18,750.
This is how we calculate this;
Cost of goods sold / inventory turnover rate =
$150,000 / 8 = $18,750.
His acting as a good customer service, because Good customer
service is the lifeblood of any business. You can offer promotions and slash
prices to bring in as many new customers as you want, but unless you can get
some of those customers to come back, your business won't be profitable for
long.
Answer:
Slope = -1
Explanation:
Demand is buyers ability & willingness to buy at a price, time.
Demand Curve is graphical representation of quantity demanded at various prices at y axis, demand at x axis.
Slope = Change in Y i.e ∆Y / Change in X i.e ∆X
'Slope of Demand Curve' is a varied version of 'Price Elasticity of Demand' i.e quantity demanded responsiveness to change in price. Former shows relative change in quantity demanded over a change in price & latter shows change in price for a given change in quantity demanded.
Demand Curve Price at Y axis, Quantity at Axis, Slope= ∆Y/∆X becomes
= ∆P/∆Q. As per given details, ∆P/∆Q = (9-10)/(5-4) = -1/1 = -1
Supply Side Economics.
Supply-side economics is a macroeconomic theory arguing that economic growth can be most effectively created by lowering taxes and decreasing regulation,
Answer:
anchoring
Explanation:
The anchoring bias refers to the psychological tendency to favor the first data given to us or the first information that we know.
This applies to situations where you are the supplier of labor or the seller of goods. When you suggest an initial salary, your recruiter or future employer will use the amount you tell him/her as the reference. In this case, since the number is just in between $50,000 and $60,000, the employer will consider that salary range. Instead, if you just change the salary by a small bit, to $55,500, the employer will consider a higher range. Generally employers will try to negotiate down to feel that they made a good deal.
The anchoring bias is usually a very successful sales technique because consumers tend to fix a normal price and compare it to a sales or discount price and believe that the discount is significant.
