In the following question, The answer "which of the following is not one of the steps in the strategic management process?" is "d. problem identification."
Strategic management refers to the process of planning, organizing, implementing, and assessing an organization's activities and resources to achieve its goals and objectives. Strategic management is a cyclical process that involves six phases or steps.
They are as follows:
Goal formulation: The first stage in the strategic management process is goal formulation. It involves the development of an organization's vision, mission, goals, and objectives. The goals and objectives should be specific, measurable, achievable, relevant, and time-bound.Environmental analysis: The second stage in the strategic management process is environmental analysis. It involves the allocation of resources to implement the chosen strategies. This step also involves the development of a detailed plan for implementing the strategies selected.Strategy evaluation: The fifth stage in the strategic management process is strategy evaluation. This step involves the continuous monitoring and evaluation of the progress made in implementing the strategies selected. This step helps managers to identify problems and make necessary adjustments to ensure the organization is on track.Problem identification: This is not one of the steps in the strategic management process. The strategic management process doesn't have the step problem identification. It is a separate step in the decision-making process.Problem identification involves recognizing that there is a problem that needs to be solved. This step helps managers to identify the root cause of the problem and determine the best solution to address it.
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if sensitivity analysis concludes that the largest impact on profits would come from changes in the sales level, then: group of answer choices fixed costs should be traded for variable costs variable costs should be traded for fixed costs the project should not be undertaken additional marketing analysis may be beneficial before proceeding
If sensitivity analysis concludes that the largest impact on profits would come from changes in the sales level, then D. additional marketing analysis may be beneficial before proceeding.
This is because sensitivity analysis helps identify the most crucial factors affecting a project's profitability. In this case, the sales level is found to be the most critical factor influencing the profits. By conducting additional marketing analysis, the company can gain a deeper understanding of the factors that drive sales, such as consumer behavior, preferences, and market trends. This analysis can also help the company to identify potential market opportunities, evaluate competitive dynamics, and develop effective marketing strategies to increase sales.
It is essential to perform this additional analysis before proceeding with the project, as it can help the company make well-informed decisions about the project's feasibility and profitability. It can also minimize potential risks and uncertainties associated with sales fluctuations, leading to more stable and predictable profits.
Options A and B, which involve trading fixed costs for variable costs or vice versa, may not be the most suitable approach in this scenario. These options could lead to changes in the cost structure, which may not directly address the sensitivity of the project's profitability to changes in sales levels.
Option C, suggesting that the project should not be undertaken, is not necessarily the correct decision without further analysis. Conducting additional marketing analysis can provide valuable insights to make a more informed decision about the project's viability and potential success. Therefore, the correct option is D.
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if nominal gdp rose, does that mean that production had to increase as well? why or why not? an increase in nominal gdp
An increase in nominal GDP doesn't necessarily mean that production had to increase as well. The reason behind this statement is that nominal GDP includes price changes, so it can increase even if production remains unchanged.
For example, a country's GDP may rise due to inflation, which causes prices to increase without any additional production.
The definition of nominal GDP: Nominal GDP is a country's economic output produced in a specific period, but it does not account for changes in price levels. It calculates the value of all goods and services at current market prices.
As a result, nominal GDP may not necessarily reflect an increase in economic output because it can be influenced by changes in price levels. Therefore, we cannot confirm that an increase in nominal GDP indicates an increase in production.
An increase in nominal GDP doesn't necessarily mean that production had to increase as well. Nominal GDP includes price changes, so it can increase even if production remains unchanged. A country's GDP may rise due to inflation, which causes prices to increase without any additional production.
Nominal GDP is a country's economic output produced in a specific period, but it does not account for changes in price levels.Nominal GDP calculates the value of all goods and services at current market prices.
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increase the output of the bottleneck. remove any non-value adding work or interruptions to the bottleneck. this describes which of the five focusing steps of theory of constraints? exploit identify subordinate repeat elevate
The focusing step that is being identified from the theory of constraints is C. Identify.
What is the identify step?The identify step involves identifying the constraint or bottleneck in the system, which is the factor that limits the system's overall performance. Once the constraint has been identified, the subsequent steps of the TOC process can be used to optimize the system and improve its overall performance.
The statement "Increase the output of the bottleneck. Remove any non-value adding work or interruptions to the bottleneck" therefore describes the first focusing step of the Theory of Constraints (TOC), which is to identify the constraint or bottleneck in the system.
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the project manager communicates the objective to the project team in such a manner as to create a vision of?
The project manager communicates the objective to the project team in such a manner as to create a vision of what the desired outcome of the project will be.
The project manager will need to clearly and concisely explain the objective to the team, making sure that all the details are outlined. Additionally, the project manager should be able to provide examples of how the goal will be achieved, so that the project team can understand what is expected of them.
Furthermore, the project manager should be able to provide incentives to the project team to motivate them to reach the goal. This can be in the form of rewards or recognition for completing tasks or reaching objectives. Finally, the project manager should always be able to provide feedback and direction on any problems or difficulties that may arise during the project. By providing a clear vision of the desired outcome and supporting it with practical methods for reaching it, the project manager can successfully create a vision of what the project should be.
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the majority of appointed u.s. treasury secretaries have been either former partners or managers of goldman sachs, which is a global investment management firm. sociologists would argue that this overlap between private business and the federal government is an example of
The majority of appointed U.S. treasury secretaries have been either former partners or managers of goldman sachs, which is a global investment management firm. sociologists would argue that this overlap between private business and the federal government is an example of crony capitalism.
This overlap between private business and the federal government is an example of crony capitalism, which is an economic system where businesses have an advantage over competitors due to their political connections and favoritism from government leaders. Crony capitalism leads to an unequal distribution of resources and opportunities, as certain businesses have an advantage over others that lack these connections.
In the case of the U.S. Treasury, the majority of appointed secretaries have been either former partners or managers of Goldman Sachs, a global investment management firm. This means that the federal government is likely granting special favors and advantages to those with ties to Goldman Sachs, disadvantaging other businesses and individuals. This also implies that Goldman Sachs has some form of influence on the decisions of the federal government, further entrenching the crony capitalist system.
Crony capitalism is a form of corruption that distorts free market dynamics and enables wealthy, powerful individuals to exploit resources and influence policy decisions to their own advantage. It is unfair and damaging to both citizens and businesses, and should be actively opposed.
To summarize, the overlap between private business and the federal government is an example of crony capitalism.
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tamara lost her job as a cashier in the retail store when the store went out of business due to a downturn in general business conditions. tamara was part 2 a. structurally unemployed. b. cyclically unemployed. c. seasonally unemployed. d. frictionally unemployed.
Answer : Tamara is an example of structurally unemployed.
Structural unemployment occurs when a job is permanently eliminated due to a shift in economic structures. It is caused by changes in the demand for a certain type of work, technology, or by a shift in global economic production. This type of unemployment is often due to the nature of the industry and the marketplace.
In Tamara's case, the store went out of business due to a downturn in general business conditions, and there was no other job available in the area to replace it. As a result, Tamara was left structurally unemployed.
Structural unemployment can lead to long-term unemployment, as the job Tamara was doing may not come back and there may be few other job options available in the area. This can lead to a decrease in the overall labor force, as people are unable to find employment. Structural unemployment can also lead to a decrease in wages, as employers can easily find a surplus of applicants for a job and therefore pay less than the market rate for labor.
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which of the following is not a best practice for new product development projects? group of answer choices assign project managers to lead projects. select projects that will take less than two years to provide payback. focus on customer needs in identifying projects. align projects and resources with business strategy.
The option that is not a best practice for new product development projects is "Select projects that will take less than two years to provide payback."
What are new product development projects?
New product development projects are a set of activities or stages that businesses follow to create and introduce new goods, services, or product lines. It's crucial to take a holistic view of the whole product development process, including design, development, marketing, and distribution when embarking on a new product development project. A new product development project should be managed using best practices.
These best practices include assigning project managers to lead projects, focusing on customer needs in identifying projects, and aligning projects and resources with business strategy. However, selecting projects that will take less than two years to provide payback is not a best practice in new product development projects. Here are some reasons why:
1. Some new products might not make money for a few years or longer, but they will generate revenue over time. This implies that businesses should think beyond short-term profitability when embarking on a new product development project.
2. Selecting projects based on payback is typically focused on financial returns, ignoring factors such as competitive advantage, technology disruption, and market trends, which may result in missed opportunities.
3. A two-year payback period might not be feasible for some products or industries. As a result, companies may be limiting themselves to certain possibilities.
What is the best practice in new product development projects?
The following are some best practices in new product development projects: Assign project managers to lead projects Focus on customer needs in identifying projects Align projects and resources with business strategy Involve cross-functional teams throughout the product development process. This can help ensure that various perspectives and areas of expertise are considered in decision-making.
Gather and analyze customer feedback to inform product design, features, and marketing strategies. Set up a product development process that is agile, adaptable, and can be changed if necessary. Incorporate testing and validation throughout the product development process, including prototypes, simulations, and customer testing to ensure that the product meets customer needs and is ready for the market.
In conclusion, the option that is not a best practice for new product development projects is "Select projects that will take less than two years to provide payback."
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in customer feedback surveys, rtc corp customers have indicated that they have a similar experience each time they interact with the company. this reflects success in which service quality dimension?
In customer feedback surveys, RTC Corp customers have indicated that they have a similar experience each time they interact with the company. This reflects success in the consistency service quality dimension.
RTC Corp customers experiencing a similar experience each time they interact with the company reflects success in the service quality dimension of consistency.
Consistency is a service quality dimension that refers to the uniformity and reliability of the service. It is the extent to which a company offers dependable and accurate services, including availability, delivery, dependability, and reliability.
The consistency dimension of service quality encompasses the following:-
Keeping promises made to customersConsistency across channelsDependability and reliability of service deliveryQuality of service deliveryTherefore, this ensures that customers are satisfied with the services they receive and that they have a positive experience. So, the success of RTC Corp in the consistency dimension of service quality reflects its ability to meet customer expectations and provide high-quality services.
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you've just received a trio from a title company. it contains an assessor's map, property profile, and one other item. what is it?
Owner of record, which is the third option, is the response of this situation.
What is record owner ?An owner of record is a person who is identified as the owner of a certain item, such as real estate or a mortgage, in public documents. The same holds true when other assets, such stock shares, are involved. Any shares that are in the ownership of the owner of record may be sold or held onto for a long period of time.
A person who owns stock, for instance, may be referred to as a shareholder of record or a stockholder of record.
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which of the following is not a common feature of an internal control system?multiple choicesegregating dutiesperformance evaluationbonding employeesimplementing the most effective marketing plan
The statement that is not a common feature of an internal control system is: Implementing the most effective marketing plan.
Which is not a common feature of an internal control system?Implementing the most effective marketing plan is not a common feature of an internal control system because it does not directly relate to safeguarding assets, ensuring financial accuracy, or promoting operational efficiency. Marketing plans are designed to promote a company's products or services to potential customers and increase revenue, which is not directly related to internal controls.
While effective marketing strategies can help a company achieve its financial goals, they are not part of the internal control system, which focuses on policies and procedures to protect against financial risks and maintain the integrity of financial reporting.
Therefore, the correct answer is D. Implementing the most effective marketing plan.
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which of the following are factors in the ethical decision-making model? (select three) a. organizational factors b. employee benefits packages c. internal control d. individual factors e. ethical issue intensity
The factors in the ethical decision-making model are
(a) organizational factors, (d) individual factors, and (e) ethical issue intensity.What is ethical decision-making modelThe ethical decision-making model is a framework for making moral or ethical decisions. It is a step-by-step process that helps individuals or groups identify, analyze, and resolve ethical dilemmas in a structured and systematic way. The model typically consists of the following steps:
Identify the problem: Recognize that there is an ethical issue or dilemma.
Gather information: Collect all the relevant facts and information related to the issue.
Identify the stakeholders: Determine who is affected by the decision and consider their interests and values.
Evaluate alternatives: Consider various options for resolving the issue and evaluate the consequences of each.
Employee benefits packages and internal control are not typically included in the ethical decision-making model.
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what is the value of walmart stock per share if the required return is 7% and the above growth rate is (rounded to 2 decimal places)? use the growth rate to estimated the 2021 dividend. dollar terms without the $ sign and to 2 decimals.
If the needed return is 7% and the aforementioned growth rate, the value of Walmart stock per share is 42.60.
What three traits distinguish preferred stock from common stock, on average?Three benefits of preferred shares account for the term "preferred": Dividends are paid to preferred investors first (with precedence given to them over common stockholders). With low interest rates, preferred shares offer a more attractive dividend yield than common stock or bondholders typically do. What doesn't a preferred stock feature have?
As a result, ownership is the feature that does not distinguish preferred stock from common stock. Thus, it is the right response.
P0 = D0 / (r-g)
D0 given in statement as 2.12
D1 = 2.12*(1+.0193) = 2.16
= 2.16 / (.07-.0193)
42.60
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Which communication channel would be most appropriate?
Email is typically the most appropriate communication channel for formal communication. However, the most appropriate communication channel still depends on the context, message, and audience.
There is no one-size-fits-all approach to communication, and the most effective communication channel depends on various factors such as the message's complexity, urgency, privacy, and audience's preferences. For instance, a face-to-face conversation might be appropriate for sensitive or complex messages that require immediate feedback, while an email or memo might be suitable for conveying factual information that doesn't need immediate attention.
Similarly, a phone call might be better than an email for urgent matters that require a quick response, whereas a video conference or c.h.a.t might be more effective for remote teams collaborating on a project. Therefore, it's essential to consider the message's purpose, audience, and urgency before selecting the most appropriate communication channel.
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What is "fair use"?
A. An exception to copyright
B. An exception to fraud
C. An exception to invasion of privacy
D. An exception to trespass
E.An exception to trade secrets
The correct option is A, an exception to copyright. Fair use is an exception to copyright that allows people to use a copyrighted work without permission from the copyright owner for certain purposes, such as commentary, criticism, reporting, research, teaching, and scholarship.
Fair use is a legal doctrine that allows limited use of copyrighted material without the need for permission from the copyright holder. It is based on the belief that the public should have access to certain material for educational and informational purposes without the permission of the copyright holder. Fair use allows the use of copyrighted material for certain purposes, such as criticism, commentary, reporting, teaching, scholarship, and research. In general, the use must be for non-profit educational purposes. Thus option A is correct.
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which component of a change and configuration management policy identifies technical and budgetary considerations associated with a proposed change and also identifies any potential impacts to the network?
The answer to your question is:
The component of a change and configuration management policy that identifies technical and budgetary considerations associated with a proposed change and also identifies any potential impacts to the network is called Impact Analysis
Impact analysis is used to determine the potential risks, cost, benefits and potential side effects of the proposed change. It evaluates the impact of the change on the existing system and identifies any potential vulnerabilities that could arise from the change.
It also evaluates the cost of the change and the budget needed for the change. Finally, it evaluates the potential impact on the network and identifies any potential disruptions or risks that could arise from the change.
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The component of a change and configuration management policy that identifies technical and budgetary considerations associated with a proposed change and also identifies any potential impacts to the network is the "Change Evaluation" component.
The Change Evaluation component is responsible for assessing proposed changes and determining their potential impact on the network, including technical and budgetary considerations. This includes identifying potential risks and assessing the impact of the change on network availability, reliability, and security.
The Change Evaluation component is critical to the success of change and configuration management policies because it helps ensure that proposed changes are thoroughly evaluated before they are implemented.
Overall, the Change Evaluation component plays a vital role in ensuring that changes are evaluated in a systematic and comprehensive manner, and that the impact of those changes is carefully considered before they are implemented.
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which of the following is a collaborative approach to problem solving usually implemented online? group of answer choices crowdsourcing ideation brainstorming outsourcing
Crowdsourcing is a collaborative approach to problem-solving, usually implemented online. This approach involves obtaining services or ideas from a large group of people, often via the internet. It involves engaging a group of people with different perspectives and skills to work together to come up with a solution to a problem.
In the context of problem-solving, crowdsourcing allows a group of people to contribute ideas and solutions from different perspectives and experiences, which can result in more effective and creative solutions. Online, crowdsourcing can be implemented through online platforms where people can participate and contribute from anywhere in the world.
For example, a business can use crowdsourcing to generate ideas for a new product or service. They can create an online challenge and ask people to contribute ideas and solutions. Then, the business can evaluate and select the best ideas to develop the new product or service.
In short, crowdsourcing is a collaborative approach to problem-solving that is implemented online. It allows a group of people to contribute ideas and solutions from different perspectives and experiences, which can result in more effective and creative solutions.
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unearned revenue is classified as a(n): question 4 options: asset account. revenue account. contra revenue account. liability.
Unearned revenue is classified as a liability account. The correct option is d. liability.
What is unearned revenue?
Unearned revenue is defined as revenue that has been obtained but not yet received. It refers to money obtained from a client for a product or service that has not yet been delivered. The organization must keep the money as a liability until the goods are supplied or the service is completed.
When the service or goods are delivered, the liability is transformed into revenue. Unearned revenue is classified as a liability account because it represents a company's obligation to produce goods or services for its customers in the future. The amount of unearned revenue on the company's balance sheet is the amount of money the company owes to its clients.
When the company produces and delivers the goods or services, it can turn the unearned revenue into earned revenue and debit the unearned revenue account, and credit the revenue account as per the rules of accounting.
Therefore, the correct option is d. liability.
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the inventory turnover ratio is computed by dividing cost of goods sold by average inventory. true or false
True, the inventory turnover ratio is calculated by dividing the cost of goods sold (COGS) by the average inventory.
The inventory turnover ratio is a financial ratio that measures the number of times that inventory is sold and replaced during a specific period.
It is used to determine the efficiency of a company's inventory management.
Inventory Turnover Ratio = Cost of Goods Sold / Average Inventory
Cost of Goods Sold = Beginning Inventory + Purchases - Ending Inventory
Average Inventory = (Beginning Inventory + Ending Inventory) / 2
Therefore, it is true that the inventory turnover ratio is computed by dividing the cost of goods sold by the average inventory.
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The United States and Kenya are exploring the possibility of a trade deal. ________ refers to a situation in which a government does not attempt to restrict what its citizens can buy from or sell to another country.
A.) BILATERAL TRADE
B.) TARIFF FREE TRADE
C.) THE WORLD TRADE ORGANIZATION
D.) THE GENERAL AGREEMENT ON TARIFFS AND TRADE
E.) FREE TRADE
The United States and Kenya are exploring the possibility of a trade deal free trade refers to a situation in which a government does not attempt to restrict what its citizens can buy from or sell to another country. So, the correct option is E.
Free trade refers to a situation in which a government does not attempt to restrict what its citizens can buy from or sell to another country. Free trade is a concept that refers to an open, unrestricted economic atmosphere. Free trade enables nations to trade with one another without restrictions such as import tariffs, export subsidies, or other trade obstacles.
Free trade promotes trade between nations by enabling firms to export their goods and services while keeping costs low by importing inputs at lower costs. Free trade is an ideal in which goods, capital, and labor are unrestricted by national borders, government intervention, or regulations.
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during which step of the continual improvement model would you check to verify whether or not you have reached the desired outcome in your improvement initiative?
The step of the continual improvement model where you would check to verify whether or not you have reached the desired outcome in your improvement initiative is the "Did we get there?" step.
The "Did we get there?" step is the final step in the Plan-Do-Check-Act (PDCA) continual improvement model, where the results of the implementation are compared with the expected outcomes. This step involves collecting data and analyzing it to determine if the goals and objectives of the improvement initiative have been achieved.
If the desired outcomes have been met, the improvement initiative can be considered successful and can be standardized as part of regular operations. If not, the process can be repeated or modified to achieve the desired outcome in future iterations.
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the extent to which a business can mitigate risk depends upon situational factors that provide challenges and opportunities. these include inventory, transportation, outsourcing, social conditions, ____ conditions, and economic conditions
The missing factor is political conditions. The extent to which a business can mitigate risk depends upon the situational factors that provide challenges and opportunities. These include inventory, transportation, outsourcing, social conditions, political conditions, and economic conditions.
Political conditions are a very important factor that can affect the growth and expansion of any business. Political situations, such as sanctions or political unrest in a country, may make it difficult for a business to operate and grow. In some cases, the country's government may impose regulations and requirements that make it difficult for the business to operate or compete with other businesses.
Therefore, it is important for businesses to consider the political conditions of a country before expanding their operations. They should analyze the country's political stability, the government's policies, regulations, and requirements, and any potential risks that could arise from the country's political situation. By doing so, businesses can mitigate risks and make informed decisions about expanding their operations.
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the securities and exchange commission, the federal reserve board , and the nuclear regulatory commission are all examples of
The Securities and Exchange Commission (SEC), Federal Reserve Board (the "Fed"), and Nuclear Regulatory Commission (NRC) are all examples of federal agencies that regulate different aspects of the economy.
The SEC is responsible for enforcing securities laws, the Fed oversees monetary policy and the banking system, and the NRC regulates nuclear energy. Additionally, the Federal Reserve is responsible for helping to manage the US economy by using tools like setting interest rates, expanding or contracting the money supply, and regulating financial institutions.The Securities and Exchange Commission, the Federal Reserve Board, and the Nuclear Regulatory Commission are all examples of regulatory agencies.
Regulatory agencies are government bodies responsible for overseeing and enforcing laws in specific sectors. Regulatory agencies have the authority to create rules, hold hearings, and implement enforcement actions. The three examples you provided are all regulatory agencies that oversee and regulate their respective areas of authority. Let's take a closer look at each of these regulatory agencies:The Securities and Exchange Commission (SEC): It is an independent, non-partisan agency of the federal government that was created to regulate the securities markets and protect investors.
The SEC aims to ensure that investors have access to accurate and up-to-date information about public companies.The Federal Reserve Board: It is a government agency that oversees and regulates the banking industry. The Federal Reserve Board sets monetary policy, regulates banks, and supervises the banking system to ensure the stability of the financial system.The Nuclear Regulatory Commission (NRC): It is an independent regulatory agency responsible for ensuring the safe use of radioactive materials for peaceful purposes. The NRC's mission is to protect public health and safety, promote the common defense and security, and protect the environment.
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true or false: relative to a global tariff, the effect of creating a customs union in luxembourg is positive. true false welfare effects of a regional trading arrangement are not always static. there are also dynamic gains that influence growth rates over the long run and offset unfavorable static effects due to trade diversion. which of the following represent dynamic gains from creating a customs union? check all that apply. the trade-creation effect greater competition market enlargement higher tariff revenues
True. The trade-creation effect, greater competition, market enlargement, and higher tariff revenues are all dynamic gains from creating a customs union in Luxembourg.
As per the question, the answer is given below:True or False: Relative to a global tariff, the effect of creating a customs union in Luxembourg is positive.FalseWelfare effects of a regional trading arrangement are not always static. There are also dynamic gains that influence growth rates over the long run and offset unfavorable static effects due to trade diversion. True. The trade-creation effect, greater competition, market enlargement, and higher tariff revenues are all dynamic gains from creating a customs union in Luxembourg.The following represent dynamic gains from creating a customs union:Trade-creation effectGreater competitionMarket enlargementHigher tariff revenuesThus, the correct answer is Trade-creation effect, Greater competition, and Market enlargement.
if a boat, boat dock, and boat house are all included in a mortgage, what type of mortgage is it? biweekly mortgage
If a mortgage includes financing for a boat, boat dock, and boat house, it is referred to as a Package mortgage. Thus, option A is correct.
A mortgage known as a "package mortgage" combines many real estate assets or property kinds into a single loan.
It enables borrowers to finance several parts of a building or collection of assets, like a home, some land, and extra buildings like a boat house or pier, under the same mortgage contract.
This kind of mortgage streamlines the loan application process by combining various components into a single loan, offering ease and maybe better conditions for the borrower. A loan known as a "package mortgage" uses both the real estate and the personal property contained therein as security for the loan.
Therefore, option A is the ideal selection.
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Your question seems to be incomplete, but most probably the complete question was:
If a boat, boat dock, and boat house are all included in a mortgage, what type of mortgage is it?
A. Package Mortgage
B. Biweekly Mortgage
C. Purchase money mortgage
D. Blanket mortgage
people gain consumer surplus when they purchase an item: group of answer choices at a price below the value of the benefit they receive from the item. at an equitable price. at a price above marginal revenue but lower than the cost of production. with a marginal benefit below the price of the item.
When people buy something at a price that is higher than their marginal profit but lower than their cost of production and consumer has a marginal benefit that is lower than the item's price.
What transpires to consumer surplus as prices rise?Consumer surplus constantly increases as product prices fall and diminishes as product prices rise. Economists visualize it as the triangle-shaped region beneath the demand curve that is between the market price and the price that customers are willing to pay.
What does the term "consumer surplus" mean?The difference between the price a consumer pays for a good and the amount he would be prepared to pay rather than do without it is known as consumer surplus, also known as societal surplus and consumer's surplus, in economics.
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to determine gains from trade, the terms of trade must be compared to the production and consumption before trade. true false
"To determine gains from trade, the terms of trade must be compared to the production and consumption before trade " is True as The terms of trade compare the prices of goods and services between two countries.
If the terms of trade are favourable, the country can increase its production and consumption of goods and services after trade. The comparison of the terms of trade to the production and consumption before trade can help to determine the gains from trade.
When a country engages in international trade, it seeks to benefit from better prices or better quality of goods and services than it could produce itself.
The comparison of the terms of trade to the production and consumption before trade gives an indication of how successful the country has been in obtaining better prices or better quality goods and services.
If the terms of trade are more favourable than the production and consumption before trade, then the country has gained from trade.
On the other hand, if the terms of trade are not more favourable than the production and consumption before trade, then the country has not gained from trade.
Therefore, to determine the gains from trade, the terms of trade must be compared to the production and consumption before trade.
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When a firm is in an increasing-cost industry, an increase in demand will result in economic profits Correct . This will cause entry into Correct the industry, resulting in an increase Correct in supply over time. This long-run adjustment will eventually cause the price level to increase Correct so that it eventually occurs at a higher level than Correct before the demand shift. There will be more Correct firms in the industry. The long-run industry supply curve will be upward sloping Correct .
When a firm is in an increasing-cost industry, an increase in demand will result in economic profits. This will cause entry into the industry, resulting in an increase in supply over time. This long-run adjustment will eventually cause the price level to increase so that it eventually occurs at a higher level than before the demand shift. There will be more firms in the industry.
The long-run industry supply curve will be upward sloping. Increasing cost industry refers to an industry in which production costs increase as more firms enter the industry. When demand increases in such an industry, the firms already in the industry will experience economic profits. This is because there is not enough supply to meet the increased demand. This creates a profit opportunity for other firms to enter the industry. As a result, more firms enter the industry, increasing supply over time.This long-run adjustment results in a shift in the supply curve to the right, causing the equilibrium price to decrease. As more firms enter the industry, production costs increase due to limited resources such as land, labor, and capital. This means that each firm’s average cost curve shifts upward, resulting in an upward sloping long-run industry supply curve. This upward sloping curve shows the relationship between the price level and the quantity of goods supplied in the long run.
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an appraiser, in valuing the addition of an all-tile swimming pool that cost $43,000 six months ago, has attributed an increase in value to the property of $25,000. he has arrived at this figure under the principle of
The question asks about an appraiser valuing the addition of an all-tile swimming pool to a property. The appraiser has attributed an increase in value of $25,000 to the property, which cost $43,000 six months ago. This figure has been determined based on the principle of "substitution value".
In the conditions given, the Substitution value is the estimated cost of replacing the improvement on the property with one of similar age, condition, quality, and utility. This figure is arrived at by calculating the amount of money it would cost to replace the existing improvement with a similar one.
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prior to the introduction of consultative selling and the partnering era, closing was often presented as:
Prior to the introduction of consultative selling and the partnering era, closing was often presented as the ultimate goal of the sales process. The focus of sales was on closing the deal and getting the customer to commit to a purchase as quickly as possible.
Closing techniques were designed to create a sense of urgency and pressure the customer into making a decision.
Some common closing techniques used during this time included the assumptive close, where the salesperson assumes the customer is going to buy and asks for the order, and the alternative close, where the salesperson presents the customer with a choice between two options, both of which result in a sale.
These techniques were often based on the assumption that customers were looking for a quick and easy solution to their problems, and that the salesperson's job was to provide that solution.
However, as the business environment became more complex and competitive, sales techniques evolved to focus on building relationships with customers and understanding their needs and challenges.
Consultative selling and the partnering era emerged, which emphasized collaboration, problem-solving, and long-term relationships over short-term sales.
In this new approach, closing is no longer the ultimate goal of the sales process, but rather a natural outcome of a successful relationship built on trust and understanding.
Rather than using manipulative closing techniques, salespeople are encouraged to ask questions, listen to the customer's needs, and provide customized solutions that meet those needs.
In summary, prior to the introduction of consultative selling and the partnering era, closing was often presented as the ultimate goal of the sales process.
However, as sales techniques evolved, the focus shifted to building relationships with customers and understanding their needs, making closing a natural outcome of a successful relationship rather than a manipulation tactic.
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mr. green is a local mobster who makes mr. blue pay $100 not to have his business burned to the ground. what is the status of the contract between mr. green and mr. blue?
The status of the contract between Mr. Green and Mr. Blue is that there is no contract because Mr. Green gave inadequate consideration, as he used coercion to obtain payment from Mr. Blue.
A contract requires an offer, acceptance, and consideration. In this scenario, there was an offer (not to burn Mr. Blue's business down), and acceptance (by Mr. Blue paying $100). However, the consideration provided by Mr. Green was inadequate because it was obtained through coercion (threatening to burn Mr. Blue's business down).
Therefore, there was no valid contract between Mr. Green and Mr. Blue. Coercion, or the use of threats, to obtain payment or other benefits, is illegal and can result in criminal charges.
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