In 2020, the economy of Macroland exported $400 billion of goods and $300 billion of services
while it imported $500 billion of goods and $350 billion of services. Furthermore, the rest of
the world purchased $250 billion of Macroland's assets.
(a) Compute Macroland's balance of payment on the current account and the capital account
in 2020.
(b) What was the value of Macroland's purchases of assets from the rest of the world in
2020?
Answers
In 2020, Macroland had a current account deficit of $150 billion, indicating that its payments for imports exceeded its receipts from exports and services. The country's capital account balance was $250 billion, representing the value of Macroland's purchases of assets from the rest of the world.
(a) To compute Macroland's balance of payment on the current account and the capital account in 2020, we need to consider the transactions related to goods, services, and assets:
Current Account:
Exports of goods = $400 billion
Exports of services = $300 billion
Imports of goods = $500 billion
Imports of services = $350 billion
Current Account Balance = (Exports of goods + Exports of services) - (Imports of goods + Imports of services)
= ($400 billion + $300 billion) - ($500 billion + $350 billion)
= $700 billion - $850 billion
= -$150 billion
The negative sign indicates a current account deficit of $150 billion, which means Macroland's payments for imports exceeded its receipts from exports and services.
Capital Account:
Purchases of assets from the rest of the world = $250 billion
Capital Account Balance = Purchases of assets from the rest of the world
= $250 billion
(b) The value of Macroland's purchases of assets from the rest of the world in 2020 is $250 billion.
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Related Questions
a business philosophy that suggests that local point of a business strategy must be customers in intends to serve is called
Answers
The advantages that a company's goods and services will provide to their clients are distinctly stated in a value proposition.
What is value proposition?The advantages that a company's goods and services will provide to their clients are distinctly stated in a value proposition.In the marketplace and among a target market or target audience, a well-crafted value proposition will set apart the company and/or its particular product or service.A corporation should use its value proposition statement as an opportunity to explain to customers why the business, its product, or its service is the best one to purchase. In a nutshell, it explains how the business can best satisfy the client's wants or address their issues.This should be accomplished by the value proposition in an accessible, succinct manner that clients will remember.As a result, a value proposition should be viewed as a strategy for attracting customers, retaining their business, positioning the business in the industry, increasing sales, and ultimately gaining a competitive edge.According to a 1988 staff document for the consulting company McKinsey & Co., Michael Lanning and Edward Michaels are credited for coining the term "value proposition." The writers of the essay "A business is a value delivery system" define a value proposition as "a clear, basic statement of the benefits, both tangible and intangible, that the company will provide, coupled with the approximate price it will charge each client segment for those services."To Learn more About value proposition refer To:
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Gary has been running a small supermarket for many years. He sells different types of perishables as well as seasonal products. Which of the following aspects of distribution does Gary need to consider?
A.
Provide more discounts on perishable products.
B.
Sell two to three food products together as a package to increase sales.
C.
Sell some products for free in order to finish the stock.
D.
Order the right quantity of goods, keeping their expiration dates in mind.
E.
Taste some of the food products to ensure their quality.
Answers
Answer:
Sell two to three food products together as a package to increase sales.
Explanation:
In most of the supermarkets, the concepts of the combo are used that means many supermarkets merge few products in one packet so than the company sales would be increased
Since in the question it is mentioned that Gary who runs a supermarket for many years. He deals in perishable and seasonal products
In order to cover the aspects of distribution, option B is correct as it is directly linked to the supermarket sales
Answer:
Order the right quantity of goods, keeping their expiration dates in mind.
Explanation:
suppose denmark prefers to fight the recession via counter-cyclical monetary policy by increasing the money supply in hopes of lowering interest rates in denmark. explain what would happen...i.e., would they be successful or not? be sure to mention capital flows and use the term(s) 'capital flight' and/or 'hot money,' whichever applies. make sure to use a balance sheet - t - account for denmark's central bank and show/explain how the money supply changes endogenously.
Answers
If Denmark were to increase the money supply in order to lower interest rates in order to fight the recession, then this would likely be successful.
What is interest?Interest is a fee charged by a lender for the use of borrowed money. It is a cost to the borrower and a source of income to the lender.
Central Bank of Denmark:
Assets Liabilities
Reserves + Deposits +
The increased money supply would lead to a decrease in interest rates, encouraging borrowing and investment in Denmark, which would help to stimulate the economy. Additionally, the lower interest rates may attract foreign capital, leading to capital inflows and the potential for hot money, or capital flight, depending on the situation. This influx of foreign capital could further stimulate the economy, though it also carries with it the risk of capital flight if the situation in Denmark were to worsen.
Overall, increasing the money supply in Denmark could be a successful method to fight the recession, as it could lead to lower interest rates, increased borrowing and investment, as well as potential capital inflows.
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explain economics in your own words
Answers
An architect’s functions may include which of the following? (SELECT ALL THAT APPLY.)
-planning and designing houses, commercial buildings, and other structures
-ensuring worksite safety
-collaborating with engineers
-acting as a construction manager and supervising contractors
Answers
Answer:
the answer is planning, ensuring, and acting
What role does IMF play in determining the value of exchange rates?
Answers
Answer:
Explanation: The International Monetary Fund (IMF) does not determine the value of exchange rates, but it does play a role in monitoring and influencing the exchange rate policies of its member countries.
The IMF's role in exchange rates is based on its mandate to promote international monetary cooperation, facilitate the balanced growth of international trade, and provide resources to member countries facing balance of payments difficulties.
The IMF provides a platform for member countries to discuss their exchange rate policies and monitor their compliance with the IMF's exchange rate obligations, which include avoiding manipulating exchange rates for unfair trade advantage and avoiding persistent exchange rate misalignments.
Through its regular surveillance of member countries' economic policies, the IMF provides recommendations on how to promote exchange rate stability and adjust imbalances, if necessary. This helps to maintain the stability of the international monetary system, which is essential for the growth of global trade and economic activity.
However, the IMF does not have the authority to dictate the actual value of exchange rates. The value of exchange rates is determined by market forces, such as supply and demand for a currency, economic conditions in a country, and interest rates.
the _________________________ takes place when a consumer reacts to a rise in the price of one good by consuming less of that good and more of another good.
Answers
The substitution effect takes place when a consumer reacts to a rise in the price of one good by consuming less of that good and more of another good.
The substitution effect takes place when a consumer responds to an increase in the price of one commodity by decreasing their consumption of that good and increasing their consumption of another good. It is the change in demand for one good that occurs as a direct result of an increase in the price of another good. The reason for the occurrence of the substitution effect is that an increase in the price of one good causes an increase in the opportunity cost of purchasing that good. As a consequence of this, customers are able to react to the rise in price by choosing to purchase a comparable good that is priced more affordably rather than the good that is more expensive.
The substitution effect is one of two effects, the other is the income effect. When the price of one good changes, consumers may increase or decrease the quantity of goods they buy as a result of either or both of these effects.
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A general rule in investing is to buy high, sell high
1) true
2) false
Answers
Answer:
Im pretty sure the answer is false
Explanation:
this is because when investing you want to get as much money as possible so you would buy it super cheap and sell it high
True or False?
Social workers work at both the state and national level.
Answers
Explanation: because true
Sample advertisement: Lose body fat and feel healthier with our proven supplement, Edgozene! Losing weight is easy with Edgozene! Just take two pills before each meal. You'll feel more full and eat less. No other diet pill offers what our product does - and for a limited time, if you buy now you can get two bottles of Edgozene for just $29.95! Which of these statements from the advertisement are facts? Check all that apply. A) Losing weight is easy with Edgozene. B) You will lose weight and feel healthier if you take Edgozene. C) You will receive two bottles of Edgozene when you order. D) Edgozene costs $29.95. E) You won’t eat as much if you take Edgozene.
Answers
Answer:
C) You will receive two bottles of Edgozene when you order.
D) Edgozene costs $29.95.
Explanation:
We assume that 1 order costs $29.95 and delivers 2 bottles. (That is, we assume that you cannot order 1 bottle for $14.98.) Under that assumption, the cost is $29.95 (D) and the amount delivered is 2 bottles. (C)
There is no way to determine whether any other claims are facts, or not. As a rule, feelings experienced when eating are a function of a lot more than just a diet pill. That is, you may or may not eat less when/if you feel more full.
Answer:
c,d
Explanation:
Financial Accounting by Thomas and Tietz, 13th edition, 2022 (published by Pearson) with MyLab access.
Answers
"Financial Accounting" by Thomas and Tietz, 13th edition, 2022 (published by Pearson) with MyLab access is a textbook that provides students with an introduction to financial accounting concepts and principles.
This edition of the textbook is the most recent one, published in 2022 by Pearson, one of the leading publishers of educational materials. It is written by Thomas and Tietz, who are experienced authors in the field of financial accounting.
The textbook is designed to help students understand the financial statements and their uses, as well as how to analyze, record, and report financial information. The 13th edition of the textbook is expected to have updated content, new examples and case studies, and new ways of presenting the material to make it more accessible to students. Additionally, the textbook comes with MyLab access, which is an online learning platform that provides students with interactive and personalized learning experiences, such as quizzes, simulations, and tutorials. MyLab's access will help students practice and reinforce the concepts learned in the textbook and improve their understanding of the material.
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in safe, what is considered an estimation buffer an time for innovation, education, problem solving, and prep for pi planning?
Answers
In SAFe (Scaled Agile Framework), an estimation buffer is a portion of time set aside to account for uncertainty and variability in estimating the duration of work.
It helps to mitigate risks and allows teams to have a more realistic estimate of the time required to complete a task or project. Time for innovation, education, problem-solving, and prep for PI (Program Increment) planning is considered as an important aspect of safe. It allows teams to allocate dedicated time for activities that are critical for continuous improvement and growth.
This time can be used for exploring new ideas, learning new skills, resolving complex problems, and preparing for the upcoming PI planning event. By including these activities in the safe framework, organizations promote a culture of innovation, knowledge sharing, and collaboration, which can lead to improved performance and better outcomes in the long run.
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Describe how social media has changed the fan experience. Is this a positive or negative change? Explain.
Answers
A positive change was experienced through social media which changed the fan experience.
Why was Social media created?
Popular website of Social media were created because people had these desires and wanted better connections beyond the real world.
Hence, the creation of these Social media website allowed fast communication between people and fans of clubs, celebrity etc
In conclusion, a positive change was experienced through social media which changed the fan experience.
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) for correct answers, how will your scores be affected with each submission you use up? select all that apply. after a few submissions you will get zero points. you will not lose any points for correct answers even if you use all allowed submissions. after a few submissions, you will start to lose a percentage of the points for that question. you will not lose any points for the first few submissions. (h) how much are the prelab, inlab, and postlab parts worth? prelab: % inlab: % postlab % (i) as a rule, the prelab, inlab, and postlab are due at a particular time each week. fill in the appropriate answer in each of the boxes below. prelab: inlab: postlab:
Answers
Answer:
The answer is "You won't lose any answers even if you're using all approved entries".
Explanation:
In the given question there is some mistake in the choices. so, we define only the correct answer.
The above-given choices describe the Its application may also apply to the reports produced so that it can make the quality of the documentation acceptable.
It is just an act that offers someone a document, a proposal, a written document, etc. because it can be considered or accepted. Its state of obedience action of acknowledging another person's authority or power.
The correct option is You won't lose any answers even if you're using all approved entries.
The following information should be considered:
The given choices represent the Its application may also apply to the reports generated so that it can make the quality of the documentation acceptable. It is just an act that offers someone the document, a proposal, a written document, etc. since it can be accepted.Learn more: https://brainly.com/question/17429689?referrer=searchResults
All of the following are characteristics of a good screen test except?a. Should be comprehensive b. Users do not participate at this preliminary stage c. Every statement should be executed d. Expected output from the module's execution should be determined manually
Answers
Option -B : Users do not participate at this preliminary stage are except characteristics of a good screen test .
A quality screen test should be thorough, which means it should cover every significant component of the programme module under evaluation. In order to completely test the code and find any faults or problems, it should also make sure that every statement is run. The expected output from the module's execution should be established, either automatically or manually, in order to analyse and compare the test results to the anticipated results.
User involvement is a crucial component of software testing and need to be integrated as early as feasible in the development cycle.
Participating users in testing may offer insightful feedback and aid in finding any problems that can negatively affect the user experience.
Participating users in testing can also assist to increase trust .
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krysta wants to take piano lessons. she asked a teacher how many new pieces she could expect to learn each month. the teacher gave an estimate of 3. write an equation that shows how the total number of pieces krysta would learn, y, depends on the number of months of piano lessons, x.
Answers
The required equation is y = 3x which represents the total number of pieces Krysta would learn, where x months of piano lessons.
What is the Linear equation?A linear equation is defined as an equation in which the highest power of the variable is always one.
Krysta wants to learn to play the piano. She inquired with an instructor about the number of new pieces she could anticipate studying each month. The teacher estimated three.
Let y represent the total number of pieces Krysta would learn,
And x represent depends on the number of months of piano lessons,
According to the given situation, we can write the equation would be as:
⇒ y = 3x
Therefore, the required equation is y = 3x which represents the total number of pieces Krysta would learn.
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Is Vegeta the prince of all saiyans or the king of all saiyans
Answers
Answer: the prince
Explanation: Vegeta first appears in chapter #204 "Sayonara, Son Goku", published in Weekly Shōnen Jump magazine on November 7, 1988, seeking the wish-granting Dragon Balls to gain immortality. Vegeta is the prince of an extraterrestrial warrior race known as the Saiyans.
Drag each option to the correct location.
Match the scenarios to the factors that affect the labor market.
foreign direct investment
outsourcing
immigration
Answers
Each scenario should be matched to the factors that affect the labor market as follows:
Immigration: Carlos is moving from Mexico to the United States because he got a job in a bank. He had his interview last month, and the bank agreed to hire him because he was willing to work for 10% less than most American workers, even though he has the same qualifications.Foreign direct investment: A US supermarket chain is going to open a few supermarkets in Europe because a recent survey showed that the chain has a huge potential for profits in Europe.Outsourcing: A renowned US information technology firm has recently signed a contract with a company based in the Philippines. The Filipino company will handle the accounts of the US firm. The US firm made this decision to reduce labor costs.What is immigration?Immigration can be defined as the movement of a group of people from one geographical region to another geographical destination such as a city, especially in search of any of the following:
Good governanceSecurityBetter living conditions.WorkJobsSocial amenitiesWhat is a foreign direct investment?A foreign direct investment (FDI) simply refers to a type of investment which is made by an individual or business organization (investor) into an investment market that is located in another country.
In conclusion, an example of foreign direct investment (FDI) is a US supermarket chain that is planning to open a few supermarkets in a country in Europe.
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Answer:
Post Test: Free Market and Businesses
Unit: 2
Economics
Question #12
__________________________________________________________
This is 100% right because I took the test
Go to explanation for picture with answers
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l
∨
Explanation:
Here's the picture and I hope this helped!
Have a nice day!
If you notice that you’re spending too much in a certain budget category, what are some things you could do to fix the shortfall?.
Answers
Some of the things which a person can do to adjust his spendings on a budget are:
Reduce spending habitsMake more money to finance the new purchases.What is a Budget?This refers to a financial plan where a person has made different allocations as to where certain monies would go to to avoid impulse spending.
With this in mind, we can see that if a person is spending too much, in a particular category, then he would have to either reduce spending or make more money.
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What is the relationship between interest rates and aggregate spending?
A.
when interest rates increase, aggregate spending also increases
B.
when interest rates increase, aggregate spending decreases
OC. they do not have any relation
OD
both the factors are affected favorably by any external factor
O E.
both the factors are affected adversely by any external factor
Answers
Answer:
B. when interest rates increase, aggregate spending decreases
Explanation:
Interest rates and aggregate spending have an inverse relationship. An increase in interest rates results in a decrease in aggregate expenditure. Interest refers to the cost of money, while aggregate spending is the total consumption in the economy.
When the cost of money is high, firms and households will stop borrowing, which reduces spending. It means businesses will not expand, and domestic consumption reduces. The net effect is a lower demand for goods and services, resulting in lower aggregate spending.
Answer:
when interest rates increase, aggregate spending decreases
Explanation:
I just took the test, good luck everyone
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:
Thinking and note-taking Discuss the effects of advertising on your day-to-day life with a partner.
Organize your ideas in the diagram. Use your notes from your brainstorming on topic vocabulary
about advertising in activities 1 and 2.
Opinions
Reasons
Education
Facts / Examples
Answers
The discussion of the effects of advertising on your day-to-day life with a partner is done below:
Opinions: Advertisers try to make people seem miserable if they do not make use of their product.
Reasons: This is seen in the types of ads that are used as bandwagon fallacy is one of the most popular which tells you that since a large number of people are using the product, why should you be left out?
Education: There are different ways of disseminating these adverts and they can be done through TV, billboards, social media, etc
Facts / Examples: A company selling toothpaste can make an advert with the caption, "If 20 million people trust our product, you should too" and then someone with pure white teeth flashes a smile.
What is Advertising?This refers to the creation of awareness for a particular product so that people would come and purchase the product.
Hence, we can see that the discussion of the effects of advertising on your day-to-day life with a partner is done above.
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Donna purchased investment land on January 1, Year 3, for $150,000. On January 1, Year 5, she sold the land for $40,000 cash down-payment plus the buyer signed a note for $300,000 to be paid evenly over the next 3 years, beginning January 1, Year 6. The buyer assumed Donna’s $70,000 mortgage on the land. Donna also paid selling expenses of $22,000. For purposes of the installment sales method, what is the gross profit percentage on the sale?
Answers
The installment sales method refers to a method of revenue recognition where revenue is recognized as cash collected from the buyer over a period of time.
Gross profit refers to the difference between the selling price of an item and the cost of producing it. Given that Donna purchased investment land on January 1, Year 3, for $150,000, and on January 1, Year 5, she sold the land for a $40,000 cash down payment plus the buyer signed a note for $300,000 to be paid evenly over the next 3 years, beginning January 1, Year 6.
The buyer assumed Donna’s $70,000 mortgage on the land. Donna also paid selling expenses of $22,000.
Therefore, the cash payment is:
Down-payment = $40,000and the buyer signed a note for $300,000 to be paid evenly over the next 3 years, beginning January 1, Year 6.
Total cash payment = $40,000 + $300,000 = $340,000
The mortgage that the buyer assumed = $70,000.
Therefore, Donna’s adjusted basis in the property is:$150,000 - $70,000 = $80,000
And the realized gain is:
$340,000 - $80,000 = $260,000
Selling expenses = $22,000
Therefore, the recognized gain is:$260,000 - $22,000 = $238,000
The gross profit percentage is given by:
Gross Profit Percentage = (Gross Profit / Contract Price) x 100
Where,Gross Profit = $238,000
Contract Price = $340,000
Therefore, Gross Profit Percentage = (238,000/340,000)×100 = 70%
Thus, the gross profit percentage on the sale is 70%.
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You are currently involved in controlling procurements on a mission critical project for your organization. A seller has been contracted to provide a high load winch system. Which input to this process should have been given special consideration by both the buyer and seller?A. Approved Change RequestsB. Organizational Process asset UpdatesC. Claims AdministrationD. Project management plan
Answers
The input to this process that should have been given special consideration by both the buyer and seller is the Project Management Plan. The correct option is d.
This document outlines the overall strategy and approach for managing the project, including procurement management. It provides guidance on how the procurement activities should be conducted, including how the seller's performance will be monitored and controlled.
Therefore, both the buyer and seller should have reviewed and understood the procurement-related sections of the Project Management Plan to ensure that they were aligned and that the procurement process was being executed according to the plan.
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1. 175 demands units per store person. Too much demand could equal too much stress on salespeople they may want higher compensation or leave for another less demanding job.
Could writes how to take business initiatives in marketing plan
a. Description-
b. Goal of initiative-
c. Metrics to measure success-
please write one paragraph to deep explain every points a, b, and c
Answers
To address high demand, marketing plans should enhance compensation, job satisfaction, reduce turnover, and maintain motivation.
a. Description: The business initiative in the marketing plan should focus on addressing the potential stress on salespeople due to high demand per store person. The description should outline strategies to improve salesperson compensation and job satisfaction, aiming to alleviate the burden of excessive demands.
This could involve revisiting the commission structure, providing performance-based incentives, offering training and development opportunities, and fostering a supportive work environment.
b. Goal of initiative: The goal of this initiative is to reduce turnover and maintain a motivated sales team. By addressing the challenges associated with high demand, the aim is to create an environment where salespeople feel valued, supported, and adequately compensated.
This will help retain experienced sales staff, minimize recruitment and training costs, and ensure consistent customer service and sales performance.
c. Metrics to measure success: Success can be measured through various metrics. Employee retention rates are a key indicator of the initiative's effectiveness. If turnover decreases or stabilizes, it indicates that the measures implemented have positively impacted job satisfaction and reduced the likelihood of salespeople seeking less demanding job opportunities elsewhere.
Additionally, conducting satisfaction surveys among salespeople can provide valuable insights into their perception of compensation, workload, and overall job satisfaction.
Lastly, monitoring sales performance indicators, such as sales targets, conversion rates, and customer feedback, can help determine if the motivated sales team is delivering improved results.
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PLEASE HELP! IN A TEST! A salesperson may sell from a distance except when it involves _____.
A. contacting people through email messages
B. contacting people who have opted
out of receiving sales messages
C. letting customers place orders on a company's website
D. contacting people through telemarketing
Answers
Answer:
b
Explanation:
A salesperson may sell from a distance except when it involves contacting people who have opted out of receiving sales messages. Thus option (b) is correct.
Who is a salesperson?A salesperson is a person who is employed by a company or organization to sell products or services to customers. The primary role of a salesperson is to identify potential customers, establish relationships with them, and persuade them to purchase the company's products or services.
They may use a range of techniques to sell, including advertising, direct marketing, and personal selling. Successful salespeople typically have strong communication, interpersonal, and negotiation skills, and are able to build trust and rapport with customers.
If a person has opted out of receiving sales messages, the salesperson is not allowed to contact them for marketing purposes. Therefore, option (b) is correct.
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In the normal operation of business, you receive a check from a customer and deposit it into your checking account. With your bank statement, you are advised that this check for $775 is "NSF." The bank also informs you that due to the amount of activity on your business account the monthly service charge is $75. During a bank reconciliation, you will a.subtract both values from the cash balance according to the company’s records b.subtract both values from the cash balance according to the bank statement c.add both values to the cash balance according to the bank statement d.add both values to the cash balance according to the company’s records
Answers
If I’m reading it correctly, the answer is b. These items are listed on the bank statement and subtracted from the cash balance on the company’s books.
Tell Me About a Time You Demonstrated Leadership Skills.
Answers
During the meeting, kristof asked, "where is the product typically bought by customers in the international market segments?" what element of the marketing mix is he addressing?.
Answers
He addresses the distribution strategy of the marketing mix in this segment.
What is International market segmentation?International market segmentation was based only on environmental considerations. suggests that important markets be grouped by international marketers using both sustainability and marketing successful strategies.
Creating a successful distribution channel is figuring out how to get your business's products or services out there. This kind of strategy aims to increase profits while retaining faithful clients.
Kristof questioned where the product was frequently purchased by clients in the global market sectors at the conference. A path that directs the shipment of goods and services through manufacturers to customers made up of intermediates is referred to as a channel of distribution.
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Which government agency would be responsible for testing for leaded paint
in imported toys from China?
A. Consumer Product Safety Commission
B. Environmental Protection Agency
C. Food and Drug Administration
O
D. Federal Trade Commission
Answers
Answer:
A. Consumer Product Safety Commission
Explanation:
When the high lead levels were detected during a routine inspection, the Consumer Product Safety Commission (CPSC) issued a recall, the first for a lead-contaminated toy in 2007.
Consumer Product Safety Commission, government agency would be responsible for testing for leaded paint in imported toys from China. Thus, option (a) is correct.
What is a government agency?A permanent or semi-permanent organization inside the federal or state government is referred to as a government agency. Federal agencies are specialized government institutions created for a particular function, such as resource management, financial regulation of specific sectors, or matters of national security.
On October 24, 1972, the Consumer Product Safety Commission was founded. The Consumer Product Safety Commission (CPSC) issued a recall after the excessive lead levels were found during a routine inspection, the first for a lead-contaminated toy in 2007. The CPSC works to reduce "unreasonable risks" of harm in order to advance the safety of consumer products.
As a result, the conclusion of the Consumer Product Safety Commission is a government agency. Therefore, option (a) is correct.
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