If demand is _____, a higher price yields _____ total revenue.
Answers
Question is: If the demand is _____, the higher price equals the total sales of _____. higher elasticity; higher elasticity; Ans) no change) the correct choice is. If demand is inelastic,
Demand is elastic if the formula gives an absolute value greater than 1 The most common commodities with inelastic demand are utilities, prescription drugs and tobacco products. In general, staple foods and healthcare tend to be the least elastic, while luxuries tend to be the most elastic. What happens when demand becomes more inelastic?
Inelastic demand means that consumers' purchasing habits remain largely unchanged when the price of a product or service rises, and consumers' purchasing habits remain roughly the same when prices fall.
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Related Questions
Telling customers that they only have until midnight to get sale prices is an appeal to
A. ethos.
B. logos.
C. pathos.
D. kairos.
Answers
Answer:
D. kairos.
Explanation:
Telling customers that they only have until midnight to get sale prices is an appeal to kairos.
Answer:
It's d
Explanation:
Which of the following businesses is using an incentive?
A. Company B, where there is conflict between the workers and the
management
B. Company C, where the government is intervening to prevent fraud
C. Company A, where the employees have voted for a four-day
workweek instead of a pay increase
D. Company D, where there is a greater demand for a product than
can be met
Answers
Answer:
d
Explanation:
FICA stands for the Federal Insurance Contributions Act and is a mandatory payroll deduction. The FICA tax rate is 7.65% and consists of Social Security tax (6.2%) and Medicare tax (1.45%). Social Security is a federal program that provides benefits for retirees, the disabled and minor children of deceased workers. Medicare is a federal program that provides hospital insurance benefits for the elderly.
Answers
The FICA tax includes payments for Medicare and Social Security. The 7.65% FICA fee, or a total of 15.3%, must be paid by the and the employee. 1.45% of it go in Medicaid taxes and 6.2% to pay tax.
What is insurance, and what kind is it?The insurance co (insurer) and the user are the two parties to the legal agreement that governs insurance (insured). In it, the insurance provider guarantees to cover the insured's damages should the insured scenario materialize. The unpredictability is the loss-producing circumstance.
What makes insurance so crucial?Anyone trying to safeguard their family, possessions, and oneself from financial danger or losses can find insurance programs to be helpful: Insurance policies will assist you in covering the cost of any necessary future medical care, hospitalization, contracting any illnesses, and related costs.
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Domestic insurers must be examined at least once every
a. 3 years
b. 4 years
c. 5 years d. As often as he or she wants
Answers
The correct answer is a. 3 years.
Domestic insurers are subject to regulatory oversight and must be examined periodically to ensure that they comply with applicable laws and regulations, and that they are financially stable. In the United States, the National Association of Insurance Commissioners (NAIC) has developed a framework for conducting such examinations, known as the Financial Condition Examinations (FCE).
Under this framework, domestic insurers are required to undergo a comprehensive examination of their financial condition at least once every three years. However, if an insurer is deemed to be at risk of financial instability, it may be subject to more frequent examinations.
The purpose of these examinations is to protect policyholders and ensure the overall stability of the insurance industry. They typically involve a review of an insurer's financial statements, investments, underwriting practices, and claims handling procedures, among other things. If any deficiencies or violations are identified during the examination, the insurer may be required to take corrective action to address them.
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1. Processes, formulas, methods, procedures, and lists are all examples of __________.
trademarks
service marks
trade secrets
copyrighted materials
2. Nearly two-thirds of the states have enacted criminal codes based on the Uniform Criminal Code (UCC).
True or False
3. The Coca-Cola Company’s soft drink syrup recipe is an example of a __________.
patent
trade secret
trademark
copyright
4. In terms of intellectual capital, __________ knowledge is highly individualized knowledge that is hard to replicated or even explain.
explicit
tacit
tangential
savant
5. A warrant may be issued based on __________.
a preponderance of the evidence
proof beyond reasonable doubt
probable cause
proof beyond a shadow of a doubt
6. A Ponzi scheme is a fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors rather than from any actual profit earned.
True or False
7. In a civil case, the plaintiff must prove __________ that the defendant committed a civil wrong.
by a preponderance of the evidence
beyond a shadow of a doubt
beyond reasonable doubt
by the substantial weight of the evidence
8. Suppose that Al Kaypon (Al) sets up a scheme to fool investors into thinking that he has invented a new product that will generate millions of dollars in sales. He designs a brochure and mails it to several individuals. At this point in the scheme, what crime (if any) has Al committed? rev: 08_25_2020_QC_CS-223792
Conspiracy to commit fraud
Mail fraud
Embezzlement
No crime, since none of the individuals contacted have responded to the brochure
9. "Look-and-feel" trademark features are called __________.
public domain characteristics
generic traits
trade dress
secondary trademarks
10. Agency rules that have the legal effect and impact of the rights of parties are known as __________.
codified statutes
legislative rules
persuasive authority
executive rules
Answers
1. Procedures
2. True
3. Trade secret
4. Tacit
5. Probable cause
6. True
7. By a preponderance of the evidence
8. Mail fraud
9. Trade dress
10. Legislative rules
1. Processes, formulas, methods, procedures, and lists are all examples of trade secrets.
2. False
3. The Coca-Cola Company’s soft drink syrup recipe is an example of a trade secret.
4. In terms of intellectual capital, tacit knowledge is highly individualized knowledge that is hard to replicate or even explain.
5. A warrant may be issued based on probable cause.
6. True
7. In a civil case, the plaintiff must prove by a preponderance of the evidence that the defendant committed a civil wrong.
8. At this point in the scheme, Al has committed mail fraud.
9. "Look-and-feel" trademark features are called trade dress.
10. Agency rules that have a legal effect and impact on the rights of parties are known as legislative rules.
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If the demand curve shifted more to the right on this graph, which of the following could be the new equilibrium point?
Answers
Answer:
$200
Explanation:
A large bakery buys flour in 25 kg bags. The bakery uses an average of' 4,860 bags a year. Preparing an order and receiving a shipment of flour bags involves a cost of $10 per order. Annual holding cost is $5 per flour bag. a) Determine the economic order quantity.
b) What is the average number of bags on hand (i.e., in inventory)?
c) How many orders per year will there be?
d)Calculate the total annual cost of ordering and holding flour.
e)If ordering costs were to increase by 50 percent order, by what percentage would the EOQ change?
Answers
a) Economic Order Quantity(EQO):Economic Order Quantity can be calculated using the following formula. \(EOQ = \sqrt{\frac{2DS}{H}}\)Where D = Annual Demand in Units S = Ordering Cost per Order H = Annual Holding Cost per UnitThen EOQ will be: \(EOQ
= \sqrt{\frac{2*4,860*10}{5}}\)= \(\sqrt{19,440}\) = \(139.28\) (approx.)The economic order quantity is 139 bags.b) Average Number of Bags on Hand:To find out the average number of bags on hand, we can use the following formula: \(Average\ number\ of\ bags\ on\ hand = \frac{EOQ}{2}\)= \(\frac{139}{2}\) = \(69.5\) (approx.)The average number of bags on hand is 69.5 bags.c)
Number of Orders per Year:We can find the number of orders per year by using the following formula: \(Number\ of\ Orders\ per\ Year = \frac{D}{EOQ}\)= \(\frac{4,860}{139}\) = \(34.89\) (approx.)So, there will be 34 orders per year.d) Total Annual Cost of Ordering and Holding Flour:Total Annual Cost of Ordering and Holding Flour can be calculated using the following formula:
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Look positively at objections offered by prospects because an objection often reveals the key to a successful sale. If prospects have been properly qualified, then offering sales resistance is another way for them to say:
A. "I do not want to buy your product at this time."
B. "I want to buy as soon as you give me a few more facts or answers that reassure me that buying from you is the smart thing to do."
C. "I like your product, but I like your competitor's better."
D. "Your product is nice, but we cannot utilize it at present."
E. Any of the above are logical.
Answers
Answer:
B. "I want to buy as soon as you give me a few more facts or answers that reassure me that buying from you is the smart thing to do."
Explanation:
In the case wghen the prospects would be qualified as compared to the offering sales that represent the another way so here it can be said that want to purchase as soon as it provided more facts or answers that given assurance for purchasing from you which shows the smart thing to be done
Therefore the option b is correct
And, the rest of the options would be incorrect
I would like to buy as quickly as you can provide me with a few more data or answers that persuade me that buying from you is the best option."
When customers are qualified as opposed to offering sales, it can be argued that they want to buy as soon as they are given additional facts or answers that give them confidence to buy from you, which is a wise thing to do.
So, the option "B" is the correct answer to the following question.
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a.
Over the period of a year, Julie's net worth decreased. Which of the following could be true?
Julie's assets and liabilities decreased by the same amount.
b. Julie's assets and liabilities increased by the same amount.
c. Julie's assets increased by more than her liabilities.
d. Julie's assets decreased by more than her liabilities.
Please select the best answer from the choices provided
A
ΟΟΟ
B.
С
Answers
The situation that could be true about the reduction in Julie's net worth would be:
d). Julie's assets decreased by more than her liabilities.
'Net Worth' is characterized as 'the value of all the assets one possesses after subtracting all his/her debts or liabilities.'In the given circumstance, the decrease in Julie's net worth would denote that the sum total of her liabilities for that financial year exceeded her total assets. The other possibility could be that the decrease faced in her liabilities is higher than the decrease in her assets leading her net worth to be negative.Hence, option d is the correct answer.
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which causes US GDP to increase? a.japan exports more goods to US b.US government reduces government expenditure c. US sells more goods to japan d.there is a fall in consumption level in US
Answers
The US sells more goods to japan which causes US GDP to increase. The correct option is C.
Why was the US occupation of Japan successful?Japan's land reform was a major success of the US-led occupation. Agricultural land became so cheap as a result of this reform that all tenant farmers who worked for rent were able to buy their own lands by becoming landlords.
Not only did the US absorb Japanese exports and tolerate Japanese protectionism, but it also subsidized the Japanese economy and converted technology to Japanese firms. When a company sells goods, it sells them to a foreign market, which includes consumers, businesses, and governments in other countries. These exports bring money into the country, increasing the GDP of the exporting nation.
Thus, the ideal selection is option C.
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Marketers will, based on solid research, identify a specific ______________ ______________ (2 words).
Answers
Answer:
product and service
Explanation:
Market research focuses on the strategic analysis of the quantitative and qualitative data and the issues related to the marketing of the product and services. During the changing elements of marketing mix which will impacts the customer's behavior. The research often includes Business to consumer and to businesses. Aiming to understand the comparatives of the product and services in the market.ways in which landscape can be created .plz answer this
Answers
Answer:
finding land and making the land into wha ever yu want
Explanation:
hopes this helps
When you receive a loan, the money the lender gives you is called the
Answers
Answer:
The Principle
Explanation:
There are two main parts of a loan: The principal -- the money that you borrow. The interest -- this is like paying rent on the money you borrow.
True or False: The quantity of the workforce is often responsible for organizational performance.
Answers
The statement “The quantity of the workforce is often responsible for organizational performance” is true because the productivity and efficiency of an organization are significantly influenced by the number of employees
The quantity of the workforce is an essential factor in organizational performance as it directly affects the company's ability to meet its goals. With more employees, there is a higher potential for collaboration, skill-sharing, and task delegation, leading to better efficiency and effectiveness.
If the workforce is insufficient, the employees may become overworked, stressed, and unable to meet deadlines or complete tasks to the best of their ability. Moreover, the number of employees influences the company's capacity to handle workload spikes, unforeseen events, or sudden changes in demand, the statement is true.
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What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.
Answers
Answer:
A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOUAccounts receivable has a balance of $7000, and the allowance for doubtful accounts has a credit balance of $400. The allowance method is used. What is the net realizable value of accounts receivable after a $160 account receivable is written off?
Answers
The net realizable value of accounts receivable after a $160 account receivable is written off is $6,360.
The net realizable value (NRV) of accounts receivable is the total amount of accounts receivable that is expected to be collected by the company. It is calculated by subtracting the allowance for doubtful accounts from the accounts receivable balance.
Initially, the accounts receivable balance was $7,000 and the allowance for doubtful accounts had a credit balance of $400. This means that the net realizable value of accounts receivable was:
NRV = Accounts Receivable - Allowance for Doubtful Accounts
NRV = $7,000 - $400
NRV = $6,600
After the $160 account receivable is written off, the allowance for doubtful accounts needs to be adjusted. Since the allowance method is used, the journal entry to write off the account receivable would be:
Dr. Allowance for Doubtful Accounts $160
Cr. Accounts Receivable $160
This reduces the credit balance in the allowance for doubtful accounts to $240 ($400 - $160).
Therefore, the new net realizable value of accounts receivable is:
NRV = Accounts Receivable - Allowance for Doubtful Accounts
NRV = ($7,000 - $160) - $240
NRV = $6,600 - $240
NRV = $6,360
The net realizable value of accounts is $6,360.
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For a sales presentation. Pedro decides to use an informal tone that makes use of tasteful humor. What step of the problemsolving approach to communication is Pedro working on?
Multiple Choice
a. Define the problem
b. Generate the options
c. Evaluate the ophions
d. Deliver the solution
Answers
Pedro is working on the step of "d. Deliver the solution" in the problem solving approach to communication. In a sales presentation, the goal is to provide a solution to a problem or fulfill a need for the audience.
By using an informal tone and tasteful humor, Pedro aims to engage and connect with his audience, making the presentation more enjoyable and memorable.
The "Deliver the solution" step involves presenting the proposed solution or ideas to the audience in a clear and effective manner. Pedro's use of an informal tone and humor helps create a relaxed and friendly atmosphere, making it easier for the audience to understand and relate to the information being presented. This approach can also help to capture the attention of the audience and make the presentation more engaging.
It is important to note that while this step is focused on delivering the solution, the other steps in the problemsolving approach to communication, such as defining the problem, generating options, and evaluating options, are also crucial in the overall process. However, in this specific context of Pedro's sales presentation, the emphasis is on delivering the solution in an informal and humorous manner to effectively engage the audience.
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When prices of outputs in an economy become sufficiently high causing production to exceed potential GDP, the resulting: hyper-intense production will be unsustainable in the long run. higher wages will encourage workers to produce more at high prices. lower prices will lead to a lower quantity of demand. downward slope in aggregate supply curve will be short run.
Answers
Answer: Hyper-intense production will be unsustainable in the long run
Explanation: Prices cannot continue to rise because the economy is working above potential GDP at that point. Potential GDP is calculated based on full employment, so the economy will eventually trend back down in the long run.
Allen Furniture Company is considering offering an inexpensive line of college dorm and apartment furnishings. If they move forward, they will renovate part of their store to accommodate this new stock. Before spending the money to redesign the store, they first want to find out customer interest. In a short response of approximately 100 words, describe some of the steps they should take as they consider this project.
Answers
Answer:
Allen Furniture Company should look into conducting a survey to gauge customer interest to find what they look for, need, and find attractive. They could do so by going to college campuses and conducting random interviews. For their apartment furnishings, they could look online to see what kind of product sell and do an analysis of customer interest that way and they could also conduct a survey for people that live in apartments. They could also look into a consultant that specializes in the field and is experienced with what customers like or want.
Gidgits Galore has been busy during this lesson continuing its expansion plans throughout the United States. After all, everyone must have a gidgit, the "must-have" gadget! Gidgits Galore has opened up stores in ten new states, hired hundreds of new employees, built two additional factories, and started an advertising campaign that has caught the US by storm! Its expansion has been featured in news magazines across the country. But Gidgits Galore has encountered a few problems and needs some advice.
Should Gidgits Galore entice much sought-after employees with generous benefits?
no
yes
Answers
Answer:
Yes
Explanation:
Edge 2021
Answer:
YES edge 2023
Explanation:
Fair value changes are not recognized in the accounting records. b. Financial information is presented so that investors will not be misled. c. Intangible assets are amortized over periods benefited. d. Agricultural companies use fair value for purposes of valuing crops. e. Each enterprise is kept as a unit distinct from its owner or owners. f. All significant post-balance-sheet events are disclosed. g. Revenue is recorded when the product is delivered. h. All important aspects of bond indentures are presented in
Answers
Answer:
a. Historical Cost Principle = All the assets are recorded at their historical cost except the short term investments.
b. Full Disclosure Principle = All the details of the financial conditions of the company shall be stated properly.
c. Expense recognition principle = All expenses shall be recorded properly, and the cost of intangible assets shall be charged as expense during its useful life as amortisation expense.
d. Industry practice and fair value principle = As stated in (a) also, all short term investments shall be valued at fair value, as crops are their stock it is an industry practice in agricultural sector to record crops at fair value.
e. Economic Entity assumption = The owner of a business and that his business are two different legal persons, as income of business is computed and assessed separately and that the income of the owner is assessed separately.
f. Full Disclosure Principle = As there is a time gap in closing the actual financial year on 31 December and preparing the balance sheet, several transactions which are considered to be of important aspect for the people concerned are disclosed in the balance sheet as events after the balance sheet but before the reporting date.
g. Revenue Recognition principle = Revenue shall only be recorded when the entire risk is transferred to the buyer, and that only the payments are left to be received.
h. Full Disclosure Principle = Again all the financial statements shall disclose all the material facts as for investors interests the full disclosure principle is followed.
Is the sales manager a subordinate? explain why?
Answers
Your text outlines nine key components of the e-commerce process architecture that are the foundation of the e-commerce initiatives of many companies today. The component that deals with establishing mutual trust and secure access between the parties in an e-commerce transaction by authenticating users, authorizing access and enforcing security features is:
Answers
Answer: Profiling & personalizing
Explanation:
Profiling could be described as the information that builds trust about you to your clients. What your clients know you for and that you're accountable unto. It could be seen as your structure when seen from the external view.
Personalising deals with how well you treat the clients in your circle, how you respond to their claims and what your customer services entails; if it's satisfactory or not up to the required.
If an insurer requires a medical examination of an applicant in connection with the application for life insurance, who is responsible for
paying the cost of the examination?
A The examiner
B The applicant
C The insurer
D The cost of the examination will be waived.
Answers
The cost of the examination will be waived
D
Which of the following law cases would fall under concurrent federal jurisdiction?
a) Federal patent, trademark, and copyright cases
b) Cases involving bankruptcy
c) Cases concerning adoption and divorce
d) Federal-question cases
Answers
Among the given options, the law cases that would fall under concurrent federal jurisdiction are (a) federal patent, trademark, and copyright cases and (d) federal-question cases. Thus, options a and d are correct.
Concurrent federal jurisdiction refers to situations where both federal and state courts have the authority to hear and decide certain types of cases.
In the case of federal patent, trademark, and copyright cases (option a), they involve intellectual property rights granted and protected by federal laws. While federal courts have exclusive jurisdiction over these cases, state courts may also have concurrent jurisdiction to hear such matters.
Federal-question cases (option d) refer to cases that involve a federal law or constitutional issue. These cases arise when a claim or dispute is based on the interpretation, application, or violation of federal statutes, treaties, or the U.S. Constitution.
Both federal and state courts can exercise concurrent jurisdiction over federal-question cases, allowing litigants to choose the appropriate forum.
On the other hand, cases involving bankruptcy (option b) and cases concerning adoption and divorce (option c) typically fall within the jurisdiction of state courts.
These areas of law are primarily governed by state statutes and regulations, and state courts have the authority to handle disputes related to them.
In summary, federal patent, trademark, and copyright cases, as well as federal-question cases, fall under concurrent federal jurisdiction, meaning they can be heard in both federal and state courts.
However, cases involving bankruptcy and cases concerning adoption and divorce are typically within the jurisdiction of state courts. Thus, options a and d are correct.
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Give me food, and I will live. Give me water, and I will die. What am I?
Answers
Answer:
a human
Explanation:
Answer:
Fire
Explanation:
Pour water on fire, it will die.
I’m not sure about the food part but:
When you give food/aka wood?? To fire, it will increase its flame even more.
Hope this helps
A 5-year Treasury bond has a 4.75% yield. A 10-year Treasury bond yields 6.9%, and a 10-year corporate bond yields 8.6%. The market expects that inflation will average 3.45% over the next 10 years (IP10 = 3.45%). Assume that there is no maturity risk premium (MRP = 0) and that the annual real risk-free rate, r*, will remain constant over the next 10 years. (Hint: Remember that the default risk premium and the liquidity premium are zero for Treasury securities: DRP = LP = 0.) A 5-year corporate bond has the same default risk premium and liquidity premium as the 10-year corporate bond described. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.
What is the yield on this 5-year corporate bond? Round your answer to two decimal places.
Answers
The yield on the 5-year corporate bond is 6.27%.
The yield on a bond is the total return that an investor expects to receive from holding the bond to maturity. It is calculated as the sum of the coupon payments and the capital gain or loss. The coupon payments are fixed, while the capital gain or loss depends on the bond's yield to maturity and the price at which the bond is bought.
In this case, we are given the following information:
The yield on a 5-year Treasury bond is 4.75%.
The yield on a 10-year Treasury bond is 6.9%.
The yield on a 10-year corporate bond is 8.6%.
The market expects that inflation will average 3.45% over the next 10 years.
There is no maturity risk premium (MRP = 0).
The annual real risk-free rate, r*, will remain constant over the next 10 years.
We can use this information to calculate the yield on the 5-year corporate bond as follows:
Yield on 5-year corporate bond = Yield on 5-year Treasury bond + Inflation premium + Default risk premium + Liquidity premium
The inflation premium is the difference between the yield on a corporate bond and the yield on a Treasury bond of the same maturity, which is due to the fact that corporate bonds are subject to inflation risk. The default risk premium is the additional yield that investors demand for holding corporate bonds, which is due to the fact that corporate bonds are more likely to default than Treasury bonds. The liquidity premium is the additional yield that investors demand for holding illiquid securities, which is due to the fact that it is more difficult to sell illiquid securities quickly and at a fair price.
We are given that the default risk premium and the liquidity premium for the 5-year corporate bond are the same as those for the 10-year corporate bond. We can use the following information to calculate the default risk premium and the liquidity premium:
Yield on 10-year corporate bond - Yield on 10-year Treasury bond = Default risk premium + Liquidity premium
8.6% - 6.9% = 1.7%
Therefore, the default risk premium and the liquidity premium for the 5-year corporate bond are both 0.85%.
We can now calculate the yield on the 5-year corporate bond as follows:
Yield on 5-year corporate bond = 4.75% + 3.45% + 0.85% + 0.85% = 6.27%
Therefore, the yield on the 5-year corporate bond is 6.27%.
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Following an active duty period of 45 days, when must an employee return to work or apply for reemployment?.
Answers
More than 31 days but less than 180 days. The employee must apply for reinstatement within 14 days after completion of military service.
How many days a year is active duty work?Types of Military LeaveAn employee can carry over a maximum of 15 days into the next fiscal year.
5 U.S.C. 6323 (b) provides 22 workdays per calendar year for emergency duty as ordered by the President, the Secretary of Defense, or a State Governor.
How many leave days can you carry over in the Army?A special leave accrual allows Soldiers who have served between March 11 and Sept. 30 of 2020 to carryover up to 120 leave days of leave into fiscal year 2021, doubling the normal carryover limit of 60 days.
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Answers
Answer:
mark me as a brainlist answee
Explanation:
The levying of tariffs is often highly politicized. The possibility of increased competition from imported goods can threaten domestic industries. These domestic companies may fire workers or shift production abroad to cut costs, which means higher unemployment and a less happy electorate.
how can a company find its way out of a market characterized by pure competition?
Answers
In conclusion, finding a way out of a market characterized by pure competition requires a strategic approach. By conducting market analysis, differentiating products or services, targeting niche markets, forming strategic partnerships, investing in marketing, and continuously innovating, a company can carve out its own path and thrive in a competitive market.
To find its way out of a market characterized by pure competition, a company can consider the following steps:
1. Conduct a thorough market analysis: The company should evaluate the competitive landscape, including the number of competitors, their market share, and their strategies. This analysis will help identify opportunities and potential gaps in the market.
2. Differentiate the product or service: To stand out from competitors, the company should identify unique selling points and develop a value proposition that appeals to customers. This could involve offering superior quality, innovative features, or exceptional customer service.
3. Target niche markets: Instead of trying to compete with every player in the market, the company can focus on specific customer segments that may be underserved or have specific needs. By tailoring products or services to these niche markets, the company can gain a competitive advantage.
4. Develop strategic partnerships: Collaborating with other companies in complementary industries can create synergies and expand market reach. By leveraging each other's strengths, companies can collectively offer more value to customers and gain a competitive edge.
5. Invest in marketing and promotion: To increase visibility and attract customers, the company should invest in targeted marketing and promotion strategies. This could include advertising, public relations, social media campaigns, or influencer partnerships.
6. Continuously innovate: In a competitive market, continuous innovation is essential to stay ahead. The company should invest in research and development to improve existing products, introduce new features, or explore new markets and technologies.
In conclusion, finding a way out of a market characterized by pure competition requires a strategic approach. By conducting market analysis, differentiating products or services, targeting niche markets, forming strategic partnerships, investing in marketing, and continuously innovating, a company can carve out its own path and thrive in a competitive market.
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