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vitfil [10]
3 years ago
11

EXERCISES

Business
1 answer:
Shalnov [3]3 years ago
3 0

Answer: See explanation

Explanation:

a. go into making goods and services = Resources

b. one good or service given up in order to get another = Opportunity cost

c. business owners, managers, and workers = Producers

d. things of value that cannot be seen or touched= Service

e, the study of the choices people make as producers and consumers = Economics

f. things of value that can be seen and touched= Good

g. those who buy or use goods and services = Consumers

h. limited supply of goods and services = Scarcity

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Read the scenario and answer the question.
Aleksandr-060686 [28]

Answer:

A). The price of gasoline increased in coastal cities since gasoline was harder to find.

Explanation:

As per the principles of demand and supply, a decrease in supply while demand remains constant will cause the price to increase.  In Georgia, the supply of gasoline was interrupted by the storm's effect. There was little gasoline coming in, leading to a shortage. After Electricity went off, gasoline demand must have gone high as people needed fuel for generators.

Gasoline has no close substitutes, especially when used as fuel for cars and generators. A shortage results in the scramble for the little available products. Sellers hike prices to maximize profits, and buyers are willing to pay more to get the scarce gasoline, thereby increasing its prices.

6 0
3 years ago
Howard Ramsell recently became aware of implied warranties that exist for consumer purchases. An implied warranty exists as a re
faltersainse [42]

Answer:

(C) the intended use of a product.

Explanation:

Implied as the term means that it is obvious, further guarantee means that the guarantee is obvious.

Now, this is because of the use of the product, as for example there is an equipment called heater, which is generally sold in winters, as it warms the room.

Now it is implied that the heater shall at-least be in proper condition and shall work without any failure for one season of winters.

The correct answer is,

Statement C

3 0
3 years ago
Which of the following statements is not a difference between business markets and consumer​ markets?A. Buyers face more compl
marusya05 [52]

Answer:

E : the market is very small and limited

Explanation:

The statement that the market is very small and limited  is not a difference between business markets and consumer markets as the real difference is :

Business market larger in size :

If we talk from a Marketing Perspective point of view it Innovates through technological push and fanatics-breakthroughs which result in a rapid increase in the number of customers in the market and as the size of the market becomes larger.

3 0
3 years ago
As a manager your organization is constantly confronted with a variety of changes in the market or a wide range of situations. Y
boyakko [2]

Answer:

C. Michael

Explanation:

The least preferred coworker scale is a method used to determine the leadership style of individuals. It was developed by Fred Fiedler and American scholar.

When a person gives positive feedback on coworkers they are more relationship oriented and get a high LPC score.

For those that give negative feedback on coworkers, they are task oriented and will get low LPC scores.

Relationship oriented style is used when employees are experienced and know what to do, while task oriented leadership is needed when the team is less experienced or results need to be delivered in a short time.

The organization is constantly confronted with a variety of changes in the market or a wide range of situations. So this requires a mix of both relationship and task oriented leadership to adapt to changing organisational needs.

Michael is the best option with middle LPC score.

7 0
3 years ago
Suppose we have a 2-person world, with only Stephen and his friend LeBron. Suppose that Stephen can move 70 boxes or bake 28 coo
PIT_PIT [208]

Answer:

Option (c) is correct.

Explanation:

Stephen can move 70 boxes or bake 28 cookies:

Opportunity cost of moving a box = (28 ÷ 70)

                                                         = 0.4 cookies

Opportunity cost of baking a cookie = (70 ÷ 28)

                                                         = 2.5 boxes

LeBron could move 24 boxes or bake 6 cookies:

Opportunity cost of moving a box = (6 ÷ 24)

                                                         = 0.25 cookies

Opportunity cost of baking a cookie = (24 ÷ 6)

                                                             = 4 boxes

Yes, trade is possible.

Stephen has a comparative advantage in baking cookies because of the lower opportunity cost than LeBron, so he is specialized in baking cookies.

On the other hand, LeBron has a comparative advantage in moving boxes because of the lower opportunity cost than Stephen, so he is specialized in moving boxes.

3 0
3 years ago
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