A purchase or an exchange can be understood as economic processes that use monetary or non-monetary funds, and that occur to satisfy certain needs of individuals and organizations.
<h3 /><h3>Buyer Decision Process</h3>
It occurs from a decision on the need to carry out an economic transaction of a good or service that lasts before and after the moment of purchase. There are five steps in the consumer decision process, which help in the purchase action, which are:
- Problem Recognition
- Information Search
- Evaluation of Alternatives
- Purchase Decision
- Post Purchase Behavior
Therefore, there are also other exchange processes, such as coincidence of wants, barter and voluntary exchange, which are processes that take place to benefit both parties in an economic exchange without the use of money.
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Customer feedback and Strategic Themes are two inputs to the solution vision.
A high-level architectural plan that addresses present company needs is a solution vision. These requirements include the architectural layer changes. As modifications in architecture are never the intended goal alone, it always has business benefit.
The Vision provides a summary of the developed Solution's potential future state. It reflects the features and capabilities that have been offered to address the needs of customers and stakeholders.
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Answer:
a. What is the MRP per driver per day?
- the marginal revenue product per driver = 60 packages x $20 = $1,200 per day
b. Now suppose that a union forces the company to place a supervisor in each vehicle at a cost of $300 per supervisor per day. The presence of the supervisor causes the number of packages delivered per vehicle per day to rise to 60 packages per day What is the MRP per supervisor per day? By how much per vehicle per day do firm profits fall after supervisors are introduced?
- if the drivers were already delivering 60 packages per day without the supervisor, then the addition of the supervisor doesn't change anything. So the MRP of the supervisor is $0. That means that the company's profits will decrease by $300 per day due to the supervisors.
c. How many packages per day would each vehicle have to deliver in order to maintain the firm's profit per vehicle after supervisors are introduced?
- $300 / 20 = 15 packages per day
- in order to maintain the profit per vehicle, each team of delivery man + supervisor should be able to deliver 75 packages per day.
d. Suppose that the number of packages delivered per day cannot be increased but that the price per deliver might potentially be raised. What price would the firm have to charge for each delivery in order to maintain the firm's profit per vehicle after supervisors are introduced?
- $300 / 60 = $5
- the price of each package delivered should increase by $5 to $25 per package.
After a recession when the economy starts to expand again, firms tend to increase share repurchases faster than they increase dividends.
An economy is the area of production, distribution, trade and consumption of goods and services. Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources.
Economy is defined as the management of community, business, or family financial matters. An example in economics is the US stock market system.
The economy is the system in which goods are produced and exchanged. Without a viable economy, the nation will collapse. There are three main types of economy: free market, command economy and mixed economy.
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