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lapo4ka [179]
4 years ago
12

Andrea lives in southern Mississippi where winters are normally fairly mild. Last January, during an unusually cold spell, the w

ater pipes in her house froze and burst. She looked online to find a plumber who was able to come out and repair the pipes the same day. Prior to the frozen pipes, the plumber's services represented a(n)
A. unsought service.
B. convenience service.
C. industrial service.
D. specialty service.
Business
1 answer:
lawyer [7]4 years ago
8 0

Answer:

The correct answer is (A)

Explanation:

Unsought Goods are the products or services that the customer does not think about or do not typically consider purchasing, and the attainment of which arises because of threat or the fear. These goods are unwanted by most of the customers until there comes the point where they desperately need it. In this case, Andrea did not think of the problem that could arise due to the cold weather.

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The market rate is the rate used to calculate the actual cash payments made to bondholders.
NISA [10]
It is false that the market rate is used to calculate the actual cash payments made to bondholders rather it is the economic price for goods and services that is offered for them in free market or market place. It is also called a going rate, the market value or market price are equal only under conditions of market equilibrium and rational expectation.
6 0
4 years ago
The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account
a_sh-v [17]

Answer:

See below

Explanation:

Assets =

Liabilities + Stockholder's equity

Accounts receivables $34,000(+)

Revenue $34,000(+)

Cash $26,000(+)

Accounts receivables $26,000(-)

Bike equipment $19,000(+) Notes payable $19,000(+)

Cash $3,400(-)

Retained earnings $3,400(-)

The first transaction increases asset(account receivable) by $34,000 while revenue(stockholder's equity) increased by the same amount

The cash receipt of $26,000 increases assets cash by $26,000 and decreases an asset , account receivable by the same amount

The purchase of an asset by note payable increases asset, bike equipment by $19,000 while liabilities note payable also increases by $19,000

The payment of utilities for $3,400 decreases asset cash by $3,400 while stockholder's equity retained earnings decreases by same amount.

7 0
3 years ago
A firm is operating in the United States with only two other competitors in the industry. a. It is likely this industry would be
Talja [164]

Answer:

a. oligopoly.

b. an economic profit.

c. economic profits will fall.

Explanation:

An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.

Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.

The characteristics of an oligopolistic market structure are;

I. Mutual interdependence between the firms.

II. Market control by many small firms.

III. Difficult entry to new firms.

Hence, a firm operating in the United States of America with only two other competitors in the industry is likely to be an industry that would be characterized as oligopoly.

Additionally, business firms operating in this industry (oligopolistic market) will likely earn an economic profit. Also, if foreign business firms begin supplying the product, increasing the number of competitors, it is likely that economic profits will fall because the industry is now being competitive and controlled by other business firms.

5 0
3 years ago
ue or False: If Dmitri's Fire Engines were a competitive firm instead and $75,000 were the market price for an engine, decreasin
Ratling [72]

Answer:

False.

Explanation:

If Dmitri's Fire Engines were competitive firm instead of $100,000 were the market price for an engine, decreasing its price from $100,000 to $50,000 would result in a decrease in production quantity, but increase in total revenue. The statement is false.

6 0
3 years ago
April fools day began many years ago in france. what event started it
serious [3.7K]
<span> <span>It is believed that the tradition of celebrating April fools' day began approximately in the mid sixteenth century when France (upon the directive of Pope Gregory XIII) abandoned the Julian calendar in favor of the Gregorian calendar. Use of this new calendar meant that the new year would now begin on the first day of January as opposed to the first day of April. Those who did not catch this news in time went on celebrating the beginning of the new year on April 1st and as such they were ridiculed  and made the laughing stock on this account. These people would henceforth be referred to as 'April fools'.</span></span>
5 0
3 years ago
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