Answer:
1) The government prohibits gas stations from selling gasoline for more than $3.40 per gallon.
This statement is an example of price ceiling as the gas stations cannot raise their price above $3.40 but can sell it at any price lower than the ceiling price of $3.40. This is binding
2) Due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from doing so. This is neither a price ceiling or floor as government isn't directly affecting the price with their policy
3) The government has instituted a legal minimum price of $3.40 per gallon for gasoline. This is an example of price floor and is binding. The reason it is a price floor is because the petrol stations cannot charge a price below $3.40 but can charge any price above the floor price of $3.40
Explanation:
Answer:
Implied demand uncertainly resulting uncertainty for the supply chain given the portion of the demand, the supply chain must handle & attributes the customer desires.
Explanation:
Implied demand uncertainly resulting uncertainty for the supply chain given the portion of the demand, the supply chain must handle & attributes the customer desires.
- It is related to customer needs & product attributes.
- The level of implied demand uncertainly of jasmine rice is low, because the demand& supply of jasmine rice is predictable
- The jasmine rice has low contribute margin, accurate demand forecasts, low stock out rates and virtually no markdown.
- These characteristics match well with Fisher’s chart of characteristics for product with highly certain demand.
Answer:
(2) salaries for officials
Explanation:
Salaries for officials would be the most appropriate area to cut, because the other three items are either more important, or would cause unintented effects if cut.
Some government agencies could even be closed, or its personnel reduced, in case the economic crisis is serious.
As for the other three items, cutting education would not make sense because the IMF itself recommends large spending in education since an educated populace is highly correlated with economic development.
Cutting food subsidies would be problematic in a country that is going through an economic crisis, and could result in hunger among the poor.
Finally, cutting tax rebates for exporters would probably cause export earnings to dwindle even more because exporters would have less incentive to engage in that activity, and many of them would likely change their occupation.
Explanation:
The analysis of the supplier's position and the supplier's preference models affect how a purchasing manager plans to do business with suppliers in the sense that, through these models, purchasing managers obtain more information to analyze their preferences, that is, it is a tool that allows purchasing managers to choose the ideal supplier according to their essential criteria, it is possible to choose a supplier based on market reputation, quality, price, etc., making the supplier decision making process more aligned to the purposes and organizational goals and more effective.
Opportunity cost is what must be given up in order to gain something else. Opportunity cost forces consumers and producers to make choices.
Opportunity cost is defined as what is given up in order to receive something else. There is always something that will be lost when you make a decision to do something else, that's the nature of decision making. Although it's hard, decision making is important and all options should be weighed out evenly.
