identification of the product​

Answers

Answer 1

Identification of the product labels is a broad category of labels that include features such as product traceability, brand protection, and various information labels. Product identification is critical in a rapidly changing business environment and the constant threat of theft and counterfeit goods.​

Effective product identification improves supply chain efficiency. This means the right product is getting to the right consumer at the right time. Clear labeling of products allows them to be easily distinguished, increasing the visibility of items in the supply chain.

Product Selection: Choosing the right product requires research, careful evaluation, and good judgment. This activity is called the product selection analysis technique.

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Related Questions

The income statement shows the amount of profits earned based on any one given day. True or false?.

Answers

Answer:

False

Explanation:

The income statement shows the amount of profits earned at the end of the financial year

The term _____ best explains why most automobile manufacturers produce similar products yet consumers have preferences for specific brands.

Answers

The term product differentiation best explains why most automobile manufacturers produce similar products yet consumers have preferences for specific brands.

What is product differentiation?

Product differentiation is a marketing tactic used to set a company's goods or services apart from those of the competition. Finding and promoting a product or company's distinctive traits while emphasizing the key distinctions between it and its rivals are necessary for effective product differentiation.

To make a product or service appealing to a target market or audience, product differentiation must go hand in hand with creating a compelling value proposition.

Product differentiation, if done well, can give the product's seller a competitive edge and ultimately increase brand recognition. The market's most gas-efficient electric vehicle or the fastest high-speed Internet service are two examples of distinct products.

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office supplies only store costs are expressed as a function of the unit sales of its two products: office chairs and task desks. assume fixed costs are $9,000 per month and the variable costs are $60 per office chair and $125 per task desk. what are office supplies only’s estimated costs for the month if 100 office chairs and 52 task desks are sold?

Answers

What are office supplies only’s estimated costs for the month if 100 office chairs and 52 task desks are sold? $21,500.

What is a fixed cost?Fixed costs, sometimes referred to as indirect costs or overhead costs in accounting and economics, are costs incurred by a corporation that are independent of the volume of goods or services the company produces. They frequently occur again and again, like monthly rent or interest payments. These expenses are often capital expenses as well.Costs that are fixed are those that don't change based on volume. Most fixed costs are expenses that depend more on time than on how much your company produces or sells. Rent and leasing charges, salary, energy prices, insurance, and loan repayments are a few examples of fixed costs.Rent and mortgage payments are two examples of fixed expenses. Auto loans. Additional loan paymentsTotal production costs — (Variable cost per unit multiplied by the number of units produced) = Fixed costs.

What are Office Supply’s estimated costs for the month if 100 office chairs and 52 task desks are sold?

( 100 office chairs *  variable costs $60 + 52 task desks * variable costs $125 ) + 9000 = $ 21500

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What type of audit is used to provide a systematic assessment of an organization's triple bottom line?

Answers

Social audit is a  type of audit is used to provide a systematic assessment of an organization's triple bottom line.

What is Social audit ?

A social audit  can be described as the  formal review of a company's endeavors,  as well as the code of conduct  with respect to the social responsibility .

This can be used to know the and the company's impact on society as well as  how well the company is achieving its goals o.

Hence, Social audit is a  type of audit is used to provide a systematic assessment of an organization's triple bottom line.

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The health care sector constituted what percentage of the u.s. gross domestic product in 2014?

Answers

The health care sector constituted 17.1% percentage of the u.s. gross domestic product in 2014. GDP quantifies the monetary worth of final products and services. It includes all of the output produced within a country's borders.

Gross domestic product (GDP) is a monetary measure of the market value of all final products and services produced by countries in a given time period. Because of its complexity and subjectivity, this metric is frequently changed before being regarded a credible indication. GDP (nominal) per capita, on the other hand, does not account for changes in the cost of living and inflation rates among countries.

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a manufacturer is an organization that performs manufacturing and/or purchasing needed to produce a product or device not for itself but as a service to another firm.

Answers

Contract manufacturer is a manufacturer is an organization that performs manufacturing and/or purchasing needed to produce a product or device not for itself but as a service to another firm.

What is meant by Contract manufacturer ?  

A contract manufacturer (CM) is a third-party producer of parts or goods on behalf of a business. Outsourcing is what this is. Typically, a corporation may present a CM with a design or product and request a quote for manufacturing it based on factors such manufacturing procedures, labor costs, tooling prices, and material costs. Utilizing a CM may offer a variety of advantages, including cost savings, superior quality, easy access to skilled labor, and economies of scale. However, there may also be dangers, such as a lack of control, a reduction in responsiveness and adaptability, and a reduced capacity for quality control.

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Aiden is a graphics designer for an advertising agency. What talent might Aiden use to do well at his job?
A.
be friendly and outgoing

B.
be artistic and like to create things

C.
enjoy the outdoors

D.
be kind and a good listener

Answers

Its B, kinda obvious

Answer:

B

Explanation:

He is designing, that is all.

If the coupon interest rate is 4. 375% for the first six months and changes to a rate equal to the 10-year treasury bond rate plus 1. 3% thereafter, the bond is called a bond.

Answers

If the coupon interest rate is 4.375% for the first six months and changes to a rate equal to the 10-year Treasury bond rate plus 1.3% thereafter, the bond is called a floating-rate bond.

A Bond may be defined as the securities of an investment wherein an investor lends money to a company/firm/organization or government for a definite period in exchange for regular interest payments. After a bond reaches its mature stage the issuer of the bond can return all the money to the investor.

A floating Rate Bond may be defined as the type of bond in which the rate of interest can fluctuate or change at regular intervals based on the benchmark rate set. In other words, the interest rates may vary throughout the tenure of the bond.

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Erin, a good friend of yours, is interested in investing. However, erin is concerned about the current state of the market. They are looking at an investment portfolio of bonds. Erin would like for her money to double in value in 9 years. How much would erin need to earn from her investment in bonds on an annual basis?.

Answers

Erin, a good friend of yours, is interested in investing. However, Erin is concerned about the current state of the market. They are looking at an investment portfolio of bonds. Erin would like for her money to double in value in 9 years. $1,000.00 using an investment that earns 8% interest compounded annually Erin needs to earn from her investment in bonds on an annual basis.

Investing is a good thanks to put your money to figure and potentially build wealth. The greater growth potential of investing is primarily thanks to the ability of compounding and therefore the risk-return tradeoff.

Investors are within the business of putting money into growing businesses so that they can make money. If you'll be able to demonstrate that your business will make them money, then you're 90% there. Investing comes with the potential of greater rewards (which can include more risk) over time.

Investing has the potential to come up with much higher returns than savings accounts, but that benefit comes with risk, especially over shorter time frames. If you're saving up for a short-term goal and can withdraw the funds within the near future, you're probably more happy parking the money in a very bank account.

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There are seven main instruments used in trade policy with __________ being the oldest and the simplest.

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There are seven main instruments used in trade policy with Tariffs being the oldest and the simplest.

A government's agreements, rules, and practices that influence commerce with other nations are referred to as its trade policy. Every country sets its own requirements for trade, including its tariffs, subsidies, and rules.

Bananas will be regarded as a new product if a policy change results in the import of bananas, which were not previously imported. Bananas from Ecuador will be referred to as a new variety if they were previously imported but imports from a new nation, like Ecuador, as a result of a change in trade policy.

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finch construction company expects to build three new homes during a specific accounting period. the estimated direct materials and labor costs are as follows. expected costs home 1 home 2 home 3 direct labor $ 60,000 $ 93,000 $ 171,000 direct materials 102,000 131,000 189,000 assume finch needs to allocate two major overhead costs ($48,600 of employee fringe benefits and $29,540 of indirect materials costs) among the three jobs.

Answers

The total cost for each house are: $178,140, $247,120, $398,880.

Total cost

1. The allocation bases rates:

                               Employee fringe benefits Indirect materials

Estimated overhead cost $48,600             $29,540

Total overhead driver          $324,000             $422,000

($60,000+$93,000+$171,000)    ($102,000+$131,000+$189,000)

Overhead allocation rate     15%                          7%

($48,600/$324,000)  ($29,540/$422,00)

2. The total cost of each house:

                              Home 1     Home 2    Home 3                     Total

Direct labor          $60,000 $ 93,000       $171,000                 $324,000

Direct materials  $102,000 $131,000          $189,000              $422,000

Fringe benefit cost allocated $9,000  $13,950 $25,650       $48,600

($60,000 x 0.15)        ($93,000 x 0.15)         ($171,000 x 0.15)

Indirect materials cost allocated $7,140  $9,170 $13,230      $29,540

($102,000 x 0.07) ($131,000 x 0.07) ($189,000 x 0.07)

Total cost $178,140         $247,120 $398,880                  $824,140

Therefore the total cost for each house are: $178,140, $247,120, $398,880.

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The complete question is:

finch construction company expects to build three new homes during a specific accounting period. the estimated direct materials and labor costs are as follows. expected costs home 1 home 2 home 3 direct labor $ 60,000 $ 93,000 $ 171,000 direct materials 102,000 131,000 189,000 assume finch needs to allocate two major overhead costs ($48,600 of employee fringe benefits and $29,540 of indirect materials costs) among the three jobs.

Required:

Choose an appropriate cost driver for each of the overhead costs and determine the total cost of each house. (Round "Allocation rate" to 3 decimal places.)

What are the limitations of broadcast as a method of sending data to the intended receiver of communication?

Answers

The limitation of broadcast as a method of sending data to the intended receiver of the communication is that it can handle only one transmission at a time.

The major dilemma of broadcast as a verbal exchange mechanism is that it miles very inefficient. A maximum of the facts a station gets in broadcast networks together with Ethernet isn't of interest to the station. The identical factor happens with the ECRWSS service supplied with the aid of the Postal provider, where the mail provider provides mail to each deal alongside his course. As a result, numerous ECRWSS broadcast mail customers get hold of each day falls in the category of junk mail. As an end result, whilst broadcast is notable for small networks, it's far flawed for massive networks.

Broadcasting is the distribution of audio or video content material to a dispersed target audience through any digital mass communications medium, but usually on the use of the electromagnetic spectrum, in a one-to-many model.

In computer networking, broadcasting refers to transmitting a packet in an effort to be acquired by each tool on the network. In exercise, the scope of the broadcast is confined to a broadcast domain.

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A customer calls in because her wireless speaker keeps dropping audio. she can't determine the cause of the issue. what should you say?

Answers

Assuming a customer calls in because her wireless speaker keeps dropping audio but she can't determine the cause of the issue, you should say: C. "I'm sorry about that. Check your systray and tell me if your Bluetooth is enabled."

What is customer relations?

Customer relations can be defined as the series of methods that a business organization (company) designs and develops for its end-to-end engagement with previous, current, and potential customers.

The main purpose of customer relations is to improve the customer experience and foster long-term relationships with them. This ultimately implies that, good customer relations require courtesy, politeness, professionalism (expertise), and effective response.

In this context, if a customer calls in because her wireless speaker keeps dropping audio but she can't determine the cause of the issue, you should say "I'm sorry about that. Check your systray and tell me if your Bluetooth is enabled."

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Complete Question:

A customer calls in because her wireless speaker keeps dropping audio. She can't determine the cause of the issue. What should you say?

"That must be frustrating. Did you drop the speaker?"

"I'm sorry to hear that. When did this start happening?"

"I'm sorry about that. Check your systray and tell me if your Bluetooth is enabled."

"Can you bring your computer and speaker into a store? We can troubleshoot better there."

"I get this problem all the time. It's probably a broken soundcard."

On november 26, civic company purchased $1,200 of supplies on account. the journal entry to record this transaction will include?

Answers

On November 26, the civic company purchased $1,200 of supplies on account. There will be "a debit to suppliers as well as a credit to trade payables" in the journal entry to document this transaction.

What journal entries?

Journaling is the practice of keeping or producing records of all transactions, whether or not they are pecuniary. There may be several entries in the journal, each of which represents either a credit or a debit. If indeed the total of the credits and debits does not equal, the journal entry is regarded to be unbalanced.

Journal entries can list one-time or ongoing events, such as bond amortization or depreciation. Accounts payable normally has its own sub-ledger that indirectly impacts the general ledger, and journal entries in accounting software are typically entered using a distinct module from those.

As a result, general ledger account balances are changed directly by journal entries. The correct date, amount(s) to be debited, amount to be credited, description of the transaction, and specific reference number are all parts of a properly formatted journal entry.

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6.
Tamara is a nurse. A patient asks her about
end-of-life options. Which should be the
basis for Tamara's response?
The nursing code of ethics and the
hospital's employee handbook
b. Tamara's personal religious beliefs
The views of the patient's friends
d. All of the above
a.
C.

Answers

The basis for Tamara's response should be: A. The nursing code of ethics and the hospital's employee handbook.

Who is a nurse?

A nurse refers to an expert (professional) who has been trained in a medical facility and licensed to provide health care for sick people (clients) and perform routine checks on them, as well as some medical instruments in a health facility such as an hospital.

What is a code of ethics?

A code of ethics can be defined as a set of rules, agreed behaviors, ideals, norms, accepted practices, and responsibilities set aside for the members of a group or business organization such as in hospitals.

This ultimately implies that, a code of ethics is a strategic policy that explicitly outlines the principles, ideals, and standard which the members and other third parties acting on behalf of a group or business organization must always adhere to in all circumstances.

In this context, we can reasonably infer and logically deduce that the basis for Tamara's response about end-of-life options should be the nursing code of ethics and the hospital's employee handbook.

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mainline produce corporation acquired all the outstanding common stock of iceberg lettuce corporation for $30,000,000 in cash. the book values and fair values of iceberg’s assets and liabilities were as follows: book value fair value current assets $ 11,400,000 $ 14,400,000 property, plant, and equipment 20,200,000 26,200,000 other assets 3,400,000 4,400,000 current liabilities 7,800,000 7,800,000 long-term liabilities 13,200,000 12,200,000 required: calculate the amount paid for goodwill.

Answers

Mainline produce corporation acquired all the outstanding common stock of iceberg lettuce corporation for $30,000,000 in cash. The book values and fair values of iceberg’s assets and liabilities were as follows:

The amount paid for goodwill will be $5,000,000.

How to calculate the goodwill amount?

We will first find the fair amount of the required assets:

The acquired assets are:

Current asset - $14,400,000

Property plant and equipment - $26,200,000

Other assets - $4,400,000

Hence, the total fair value of the assets is $45,000,000

Now, will find the fair amount of the total liabilities:

The liabilities are:

Current liabilities - $7,800,000

Long - term liabilities - $12,200,000

Hence, the total fair value of the total liabilities is $20,000,000.

Now, we can compute for the Fair Value of Net Assets:

Fair value of net assets = Fair value of acquired assets – Fair Value of liabilities

Fair value of net assets = 45,000,000 - 20,000,000 = $25,000,000

Now,

Goodwill = Purchase Price - Net assets

Goodwill = $30,000,000 - $25,000,000

Goodwill = $5,000,000

Hence, the amount paid for goodwill will be $5,000,000.

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complete the statement about taxes on dividends. dividends that are are taxed the same as short-term capital gains, which is the investor’s marginal tax rate.

Answers

Non qualified is the investor’s marginal tax rate, is the statement about taxes on dividends. Dividends that are taxed the same as short-term capital gains.

What is short-term capital gains?

Gains from selling assets a person owned for a year or less are considered short-term capital gains and are typically taxed at the same rate as the ordinary income, which can range from 10% to 37%.

The shares in the aforementioned case were sold through a reputable stock exchange after being held for less than a year and were subject to STT; as a result, the STCG can be referred to as STCG covered by section 111A. A 15% tax will apply to such STCG.

Thus, Non qualified is the investor’s marginal tax rate.

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The three most important items to keep in mind when reviewing an income statement are?

Answers

The three most important items to keep in mind when reviewing an income statement are:

GAAPCash verses non-cash items.Time and costs.

The four basic financial statements.

In Financial accounting, there are four (4) basic financial statements and these include the following:

Income sheetStatement of retained earningsBalance sheetStatement of cash flows

What is an income statement?

An income statement can be defined as a type of financial statement which is typically used by an entrepreneur or business firm to record the amount of money (revenues) that are entering or flowing into the business.

What is GAAP?

GAAP is an abbreviation for Generally Accepted Accounting Principles and it comprises the financial accounting standards, procedures and principles that must be used by all public institutions that are operating in the United States of America.

In conclusion, the three most important items to keep in mind when reviewing an income statement are:

GAAPCash verses non-cash items.Time and costs.

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The lower the personal cost of helping others, _____.
a. the more help we offer
b. the less help we offer
c. the higher the marginal benefit
d. the lower the marginal benefi

Answers

The lower the personal cost of helping others, a. the more help we offer.

An example of help is a person who is going out of his manner to aid you. help method to offer aid or assistance, or to improve a state of affairs. An instance of assistance is while you mow your older neighbor's garden for free. An example of assistance is whilst tutoring makes your grades get better.

Helping others improves social interaction, distracts human beings from their very own troubles, and improves and competence. bodily properly-Being - supporting others leads to expanded social integration which allows people to steer greater active existence.

The phrase is recorded as a cry of misery from overdue 14c. The experience of "serve a person with meals at desk" (1680s) is translated from French servir "to help, stead, avail," and led to supporting (n.) "part of food."

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Troy will receive $7,500 at the end of year 2. At the end of the following two years, he will receive $9,000 and $12,500, respectively. What is the future value of these cash flows at the end of year 6 if the interest rate is 8 percent?.

Answers

The future value of these cash flows at the end of year 6 if the interest rate is 8 percent is $33445

In order to calculate your income for the long run, use the subsequent formula: Beginning Cash + Projected Inflows – Projected Outflows = Ending Cash. Start together with your current balance. Add within the amount you expect to earn during the set period you're forecasting. The Closing Balance is the amount of money at the top of the month (last day of month).

The Closing Balance is calculated by the subsequent equation: Closing Balance = Opening Balance add Total of Income less Total of Expenditure. Future Value (FV) Formula may be a financial terminology accustomed to calculate the worth of money flow at a futuristic date as compared to the first receipt.

Net income may be a profitability metric that represents the number of cash produced or lost by a business interest rate during a given period. Usually, you'll be able to calculate net income by figuring out the difference between your business's cash inflows and cash outflows.

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Thomas invests $120 in an account that pays 4 percent simple interest. how much money will thomas have at the end of 6 years?

Answers

Thomas will have $148.8 at the end of 6 years.

Given the amount Thomas invests is $120.

The rate of interest at which Thomas invests the amount is 4%.

Time = 6 years.

we need to calculate the simple interest.

P= $120

t = 6 years.

r = 4%

Simple interest = P×t×r/100

= 120 × 6 × 4/100

= $28.8

Future value = Principal + Simple interest

Future value = $120 + $28.8

Future value = $148.8

So, Thomas will have $148.8 at the end of 6 years.

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when considering decision alternatives, both relevant and irrelevant costs are included when using the

Answers

when considering decision alternatives, both relevant and irrelevant costs are included when using the total cost.

What is costs?

The term "cost" refers to the actual amount of money spent on the manufacturing of the product. The products are manufactured to spend money on raw materials, transportation, wages, salaries, and other expenses.

The total cost is the alternative-divided so that only relevant costs are affected by the managerial decision. The irrelevant costs, on the other hand, are unaffected by the decision and are based on a future decision.

As a result, the total cost are the using of the relevant and irrelevant costs.

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the data above indicates that increasing the production of capital goods requires increasing sacrifices of consumer goods decreasing sacrifices of consumer goods constant sacrifices of consumer goods no sacrifices of consumer goods

Answers

According to the aforementioned data, growing capital good production necessitates increasing consumer good sacrifices.

Beginning with zero capital goods, adding one unit of aforementioned data capital goods causes the price of consumer good to decrease by one unit.

14-12=2 units of consumer goods are lost for every additional unit of capital goods, and so on; 3,4,5 units were allocated for 3,4,5 units of capital goods.

Consumer goods are therefore being sacrificed more and more.

Consumer goods are items purchased by the typical consumer for personal use. Consumer products are the end product of production and aforementioned data manufacturing and are often referred to as final goods. Examples of common consumer goods are clothing, food items, and dishwashers.

The U.S. Consumer Product Safety Commission, a body of five appointed officials that oversee the safety of consumer products, was established by the Consumer Product Safety Act of 1972, which also controls the sale of most common consumer goods.

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consider a 10-year, $50 annuity that makes annual payments. the first payment is made exactly 4 years from today and the appropriate discount rate is 6%. what is the present value of this annuity?

Answers

The present value of the annuity in today's terms is $308.98

What is the present value of the annuity?

The present value of the annuity is the present value of cash flows of $50 per year for 10 years bearing in mind that the first cash flow is in 4 years, we need to note that the present value formula of an annuity discount cash flows from year 4 to year 3

PV=PMT*(1-(1+r)^-N/r

PV=present value of annuity=unknown

PMT=annual cash flow=$50

r=discount rate=6%

N=number of annual cash flows in 10 years=10

PV(year 3)=$50*(1-(1+6%)^-10/6%

PV(year 3)=$368.00

PV(year 0)=$368.00/(1+6%)^3

PV(year 0)=$308.98

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How did business impact the process of cultural diffusion in the second half of the twentieth century? it slowed it down significantly. it slowed it down modestly. it had no unmistakable impact. it accelerated it significantly.

Answers

The Right Response is Option A which states that It slowed it down significantly.

Diffusion of culture is the spreading and blending of elements from other cultures. People adore and take pleasure in the wide variety of foods, outfits, and even languages that are part of these many cultures.

What are some instances of cultural diffusion?

Cultural diffusion refers to the process through which certain aspects of one culture are incorporated into other cultures. The widespread usage of mobile phones (and frequently smartphones) throughout several nations and cultures is an example of cultural diffusion.

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Answer:

The answer is D “ it accelerated it significantly”

Explanation: got it right on my test!

The process approach to entrepreneurship emphasizes ______. a. reaction b. innovation c. fluidity d. prediction

Answers

The process approach to entrepreneurship emphasizes fluidity.

What is entrepreneurship?

Creating or removing economic value is what is meant by entrepreneurship. According to this definition, entrepreneurship is considered a transformation that typically involves greater risk than is typical when beginning a business and may also involve values other than just financial ones. An individual who starts a new firm, taking on the majority of the risks and reaping the majority of the gains, is known as an entrepreneur. Entrepreneurship is the practice of starting a business. The entrepreneur is frequently viewed as an innovator, a source of fresh concepts for products, services, businesses, and operational methods. Small enterprises, scalable startups, major firms, and social entrepreneurs are the traditional divisions of entrepreneurship.

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In the vals framework, each consumer segment exhibits unique media preferences. which segment is most likely to view outdoor advertising?

Answers

Strivers segment is most likely to view outdoor advertising.

Why VALS is important?

VALS can help in defining targets for items and are also supportive within the improvement of advertising duplicate and media techniques. The concept was presented in 1978 by the California consulting firm of SRI Universal. The acronym VALS,  could be a psychographic division.

the current eight VALS types are:

Innovators,  Thinkers,Achievers, Experiencers, Believers,  strivers Makers Survivors

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when an economy produces a combination of goods that lies inside the production possibilities curve: group of answer choices resources will never be depleated. opportunity cost is constant. resources are not being fully and efficiently used. resources are being fully and efficiently used. prices are constant.

Answers

When an economy produces a combination of goods that lies inside the production possibilities curve its resources are not being fully and efficiently used. Hence, option C is correct.

What is the Production possibility frontier?

The production possibility frontier, a curve, displays on a graph the maximum amounts that may be produced of two goods if they are both made from the same scarce resource. A different name for the PPF is the production possibility curve.

Opportunity cost is the money wasted in the production of a commodity when resources are transferred from one to another. On a graph, the maximum amount that could be generated is depicted as a curve.

Thus, option C is correct.

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The make-up of the governing council of the european central bank and the methods used to calculate price stability for the monetary system can potentially result in?

Answers

The make-up of the governing council of the European central bank and the methods used to calculate price stability for the monetary system can potentially result in

A) Small countries having undue influence on the decisions of the Council.

B) Monetary policy that is well suited for some countries but ill-suited for others.

C) A policy for the median country rather than a policy well suited for any country.

Option D is correct

This is further explained below.

What is Monetary policy?

Generally,  In economics, monetary policy refers to the management of money supply and the distribution of newly created currency.

In conclusion, The correct option is  "All of the results listed are possible." Option D

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complete question

The makeup of the Governing Council of the European Central Bank and the methods used to calculate price stability for the monetary system can potentially result in:

A) Small countries having undue influence on the decisions of the Council.

B) Monetary policy that is well suited for some countries but ill suited for others.

C) A policy for the median country rather than a policy well suited for any country.

D) All of the results listed are possible.

Suppose you like to make, from scratch, pies filled with banana cream and vanilla pudding. you notice that the price of bananas has increased. as a result, your demand for vanilla pudding would?

Answers

You observe that bananas has increased. Your request for vanilla pudding would get smaller.

Increased Demand:

Demand is the quantity of consumers  willing and able to purchase a product at various prices over a  period of time. Consumers' desire to buy products and their willingness and ability to pay for them are referred to as their demand for those products. Consumer demand for a product is influenced by the product's pricing, the price of competing items, the consumer's income, as well as their own preferences and tastes. When one or more of these variables change, the quantity of products selected by consumers can also change. If the prices of other commodities, consumer incomes, and preferences are constant, the optimal quantity of a product chosen by a consumer becomes completely dependent on its price.

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