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3 years ago

What is the difference between productive and service oriented professions Explain with examples

Business

1 answer:

Ghella [55]3 years ago

5 0

Answer:

Explanation:

Product vs Service Business

While it may seem to go against traditional thinking, in some ways there is very little difference between product based and service based companies. In actuality, both sell a product. The distinction between the two is that the product business sells a physical, tangible product, while the service business owner sells his skills as the primary product. In the service-based business, customers purchase the skills of a service provider or owner, such as a plumber or lawyer, This type of business has a strong emphasis on the client relationship and makes the customer's user experience very important. Product-based businesses, on the other hand, deliver physical products that are reasonably consistent in quality for each customer, making the customer experience fairly predictable.

Local or Global Consumer Markets

In general, when consumers are looking for new solutions they try to distinguish the different services/products of business and industry in the locality where they reside. As such, businesses need to target their product and service based businesses to the appropriate markets. Consumers located anywhere in the global market can purchase a product via the internet as long as they can have their purchase delivered locally and cost effectively. However, most service businesses can only provide services to customers within their local target market. For example, while a computer store can ship computers all over the world, a hairstylist will only attract clients within a reasonable driving distance from her home or business. As a result, businesses need to consider how their customer base will influence their marketing efforts.

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What is the range for the relative price of cloth such that the economy produces both cloth and food? From _______ to _______ .

dezoksy [38]

The answer is explained in detail below

Explanation:

$a_{KC} = 2$

$a_{LC} = 2$

$a_{KF} = 3$

$a_{LF} = 1$

Labor, L = 2000; Capital, K = 3000

Labour constraint,

$2Q_{c} + Q_{F} \leq 2000$

Capital constraint ,

$2Q_{c} + 3Q_{F} \leq 3000$

Solving the equation further, we get

$Q_{F} \leq 2000 - 2Q_{C}$

$Q_{F} \leq 1000 - \frac{2}{3} Q_{C}$

The range for the relative price of cloth such that the economy produces both cloth and food is 2/3 and 2

Low cloth production → economy will use relatively more labor to produce cloth → opportunity cost of cloth is 2/3rd units of food.
High cloth production → economy dips on labor → taking capital away from food production → raising opportunity cost of cloth to 2 units of food.

If relative price of cloth lies between 2/3 and 2 units of food, the economy produces both goods.
If the price of cloth decreases below 2/3 → complete specialization in food production → low compensation for producing cloth
If the price of cloth rises above 2 → complete specialization in cloth production → low compensation for producing food

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3 years ago

Barger enterprises has an unusual or infrequent loss of $300,000, an unusual gain of $700,000, and a tax rate of 30%. at what am

frozen [14]

Unusual loss $(300,000)
Unusual gain $700,000
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3 years ago

You are to indicate the proper accounts to be debited and credited for the following transactions by writing the account number(

kvv77 [185]

Answer:

since there are no columns, I will write it down:

1. Stockholders invest $90,000 cash to start the business.

Cash increases by 90,000

Common stock increases by 90,000

2. Purchased three digital copy machines for $400,000, paying $100,000 cash and signing a 5-year, 6% note for the remainder.

Copy machines increases by 400,000

Cash decreases by 100,000

Notes payable increases by 300,000

3. Purchased $5,000 paper supplies on credit.

Supplies increases by 5,000

Accounts payable increases by 5,000

4. Cash received for photocopy services amounted to $7,000.

Cash increases by 7,000

Service revenue increases by 7,000

5. Paid $500 cash for radio advertising.

Advertising expense increases by 500

Cash decreases by 500

6. Paid $800 on account for paper supplies purchased in transaction 3.

Cash decreases by 800

Accounts payable decreases by 800

7. Dividends of $1,500 were paid to stockholders.

Dividends increase by 1,500

Cash decreases by 1,500

8. Paid $1,200 cash for rent for the current month.

Rent expenses increases by 1,200

Cash decreases by 1,200

9. Received $2,000 cash advance from a customer for future copying.

Cash increases by 2,000

Unearned revenue increases by 2,000

10. Billed a customer for $450 for photocopy services completed

Accounts receivable increases by 450

Service revenue increases by 450

4 0

3 years ago

Have you ever done the right thing even when others wanted you to do something else? if so, please describe the situation

Salsk061 [2.6K]

Yes. Now it is always tricky to do something right when everyone else is thinking at the opposite side. There will be times when you are asked to conform to everyone's decision however you know deep in your heart it is not the right thing to do. So do whatever your heart tells you.

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4 years ago

Coronado Industries constructed a building at a cost of $30150000. Weighted-average accumulated expenditures were $12500000, act

Neko [114]

Answer:

$709,100

Explanation:

Cost of the building = $30150000

Average accumulated expenditures = $12500000

Actual interest = $1230000

Avoidable interest = $604000

Salvage value = $2390000

Useful life = 40 years

Depreciation expense for the first full year:

= ((Cost of the building + Avoidable interest) - Salvage value) / Useful life

= [($30150000 + $604000) - $2390000] / 40

= [$30754000 - $2390000] / 40

= $28364000 / 40

= $709,100

So, the depreciation expense for the first full year using the straight-line method is $709,100.

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3 years ago

What is the difference between productive and service oriented professions Explain with examples​

What is the difference between productive and service oriented professions Explain with examples