Trade promotion refers to sales promotion intended at intermediates, which frequently emphasises price reduction. The second option is entirely right.
What exactly is trade promotion?Promotion of trade is a component of revenue management that relates to marketing initiatives aimed towards retailers and wholesalers rather than end customers. It is a marketing approach used to increase product demand in retail establishments. The primary goal of trade promotions is to enhance product sales by making it more appealing to potential customers. In the case of innovations, promotions try to raise product awareness by emphasising its benefits and value proposition. it is one of the important promotion.
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The sales promotion aimed at intermediaries, often emphasizing price reduction, is called Trade promotion.
Trade promotion refers to promotional activities aimed at distributors, wholesalers, or retailers, rather than end consumers. The main objective of trade promotions is to motivate these intermediaries to stock, promote, and sell more of a particular product or brand.
Trade promotions can take various forms, including discounts, allowances, free goods, merchandising support, co-operative advertising, point-of-sale displays, and training programs. These promotions can help increase the visibility and availability of a product, encourage intermediaries to buy in larger quantities, and ultimately boost sales and market share.
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Jackson is preparing for his hearing before the Federal Communications Commission (FCC) involving a complaint that was filed against him by the FCC regarding the interruption of radio frequency. The order to "cease and desist" using the radio frequency has had a detrimental impact on his business.
The Federal court, through stare decisis, will look to precedent in ruling on Jackson's case.
Yes, the court will look to cases that have already been decided in deciding Jackson's case.
No, the court will start with a clean slate in reaching a decision regarding Jackson's case.
Answer:
Yes, the court will look to cases that have already been decided in deciding Jackson's case.
Explanation:
The court has scheduled hearing which Jackson has to attend. In this case the court will look into details of the matter and then find out the decision. If there are some difficulties in concluding the case then references will be taken from previous cases whose decisions has been decided.
Answer:
Yes, the court will look to cases that have already been decided in deciding Jackson's case.
Explanation:
I did the assignment in edge 2021.
Mozer Villa & Spa employs a seven-day workweek (Sunday through Saturday) and a December 31 year-end. Normal weekly wages amount to $76,000. If December 31 is on a Thursday, what is the appropriate journal entry at fiscal year-end? In the choices below, as per convention, debits are listed first followed by credits.
The appropriate journal entry on January 4, the next payday for Mozer Villa & Spa, would be option Debit Wages Expense $43,429, Debit Wages Payable $32,571, Credit Cash $76,000. Correct option is B
Since Mozer Villa & Spa employs a seven-day workweek that begins on a Sunday and December 31 falls on a Tuesday, the last day of the payroll period would be December 28 (Saturday).
Therefore, two days' worth of wages (Sunday and Monday) would be accrued and unpaid as of December 31. The total amount of wages accrued for these two days would be $43,429 ($76,000/7*2).
On January 4, the next payday, Mozer Villa & Spa would pay its employees the wages earned during the payroll period that ended on December 28.
The total amount paid would be $76,000, which would include the two days' worth of wages accrued and unpaid as of December 31, as well as the normal weekly wages earned during the payroll period.
To record this transaction, the company would debit Wages Expense for the total amount earned during the payroll period, which is $76,000. They would also debit Wages Payable for the amount accrued and unpaid as of December 31, which is $43,429.
Finally, they would credit Cash for the total amount paid, which is $76,000. Therefore, correct option is B.
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Complete question is:
Mozer Villa & Spa employs a seven-day workweek which begins on a Sunday and a December 31 year-end. Normal weekly wages amount to $76,000. If December 31 is a Tuesday, what is the appropriate journal entry on January 4, the next payday for Mozer Villa & Spa?
a. Debit Wages Expense $76,000
Credit Cash $76,000
b. Debit Wages Expense $43,429
Debit Wages Payable $32,571
Credit Cash $76,000
c. Debit Wages Payable $76,000
Credit Cash $76,000
d. Debit Wages Expense $32,571
Debit Wages Payable $43,429
Credit Cash $76,000.
Motivational job design focuses on designing jobs around the concepts of task specialization, skill simplification, and repetition.
The given statement, Motivational job design : Focuses on designing jobs around the concepts of task specialization, skill simplification, and repetition is False
Motivational job design does not focus on designing jobs around the concepts of task specialization, skill simplification, and repetition. Instead, it emphasizes on creating jobs that are intrinsically motivating for employees, leading to higher job satisfaction and performance.
In motivational job design, the main objective is to enhance employees' intrinsic motivation by incorporating factors such as autonomy, skill variety, task significance, feedback, and task identity into the job design. This approach is based on the premise that individuals are motivated when they perceive their work as meaningful, challenging, and aligned with their personal goals and values.
Contrary to task specialization, motivational job design encourages task variety to prevent monotony and promote personal growth. Instead of skill simplification, it promotes skill development and utilization to provide employees with a sense of achievement and mastery. Moreover, repetitive tasks are often seen as demotivating and can lead to boredom and disengagement, which is contrary to the goals of motivational job design.
In mathematical terms, we can represent motivational job design as a function that optimizes the intrinsic motivation of employees given certain job design parameters. The function takes into account variables such as autonomy, task variety, task significance, feedback, and task identity, and aims to maximize the overall motivation level of employees within the constraints of the job requirements and organizational objectives.
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Complete Question
True or false with reason:
Motivational job design : Focuses on designing jobs around the concepts of task specialization, skill simplification, and repetition.
The various ways of transferring money from one person or entity to another are called:
financial exchanges
debit cards
credit cards
checks
Answer:
financial exchanges
Explanation:
Financial exchanges is the trading of money between people as well as many other financial instruments.
In the army, each soldier has an assigned rank. A soldier of rank X has to report to (any) soldier of rank X + 1. Many soldiers can report to the same superior. Write a function: class Solution { public int solution(int[] ranks); } that, given an array ranks consisting of soldiers' ranks, returns the number of soldiers who can report to some superior. Examples: 1. Given ranks = [3, 4, 3,0, 2, 2, 3, 0, 0], your function should return 5, because • Three soldiers of rank 3 (ranks[0], ranks[2], ranks[6]) may report to a soldier of rank 4 (ranks[1]). • Two soldiers of rank 2 may report to any soldier of rank 3. 2. Given ranks = [4, 2, 0], your function should return 0. 3. Given ranks = [4, 4, 3, 3, 1, 0), your function should return 3, because • A soldier of rank 0 can report to a soldier of rank 1. • Two soldiers of rank 3 can report to any soldier of rank 4. Write an efficient algorithm for the following assumptions: • N is an integer within the range [2..100,000); • each element of array ranks is an integer within the range [O.. 1,000,000,000).
The problem can be solved by first counting the number of soldiers at each rank. Then, iterate over the ranks and check if there are soldiers at rank `r+1`.
If so, add the number of soldiers at rank `r` to the count of soldiers who can report to a superior. Finally, return the count.
Here's the code:
```class Solution {
public int solution(int[] ranks) {
int[] count = new int[1000000001];
for (int r: ranks) {
count[r]++;
}
int total = 0;
for (int r: ranks) {
if (count[r + 1] > 0) {
total += count[r];
}
}
return total;
}
}
```
This solution has a time complexity of O(n), where n is the length of the `ranks` array and a space complexity of O(max(rank)).
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Help what’s the answer?
A normal good is one that sees an increase in demand as a result of an increase in the income of consumers.
To put it another way, a rise in wages leads to an increase in demand for standard goods, whereas a decrease in wages or layoffs results in a decrease in demand.
When the price of a typical good goes up, what happens?
An increase in the cost of a typical good accomplishes the same thing.Consumers are more likely to substitute other goods whose prices are currently relatively lower because of the higher price.As a result, less is needed because of the substitution effect.
What happens to a product's price when demand rises?
If the demand for a good or service exceeds the supply at the current price, there is a shortage. The price goes up as a result. The equilibrium price will rise in the event of an increase in demand while the other conditions remain unchanged; The offered quantity will rise.
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examples of frictional force
Explanation:
I hope this would be the right answer....19) the musical instrument played by a music student a. Qualitative-Nominal b. Qualitative-Ordinal c. Quantitative-Discrete-Ratio d. Quantitative-Discrete-Interval e. Quantitative-Continuous-Interval f. Quantitative-Continuous-Ratio
The musical instrument played by a music student can be classified as a. Qualitative-Nominal.
The reason for this classification is that musical instruments do not possess an inherent order or ranking (ordinal) nor can they be measured on a numerical scale (quantitative).
Instead, the choice of instrument is based on qualitative characteristics such as the sound produced, playing technique, or personal preference. Musical instruments fall into different categories (e.g., strings, woodwinds, brass), but these categories do not imply any specific order or magnitude, making it a nominal variable.
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identify two ways in which the ritz-carlton hotel in maui, hawaii, prices its rooms based on transaction characteristics..
The Ritz-Carlton hotel in Maui, Hawaii, prices its rooms based on transaction characteristics in the following ways: Seasonal Pricing and Length of Stay Pricing
Seasonal Pricing: The Ritz-Carlton adjusts its room prices based on the seasonality of the hotel industry in Maui. During peak travel seasons, such as holidays or summer months, when there is high demand for accommodations, the hotel may increase its room rates. Conversely, during off-peak seasons when there is lower demand, the hotel may offer discounted rates to attract guests. Seasonal pricing allows the hotel to align its pricing strategy with the fluctuations in demand throughout the year.
Length of Stay Pricing: The Ritz-Carlton may offer different room rates based on the length of a guest's stay. For example, the hotel may offer discounted rates for guests staying for multiple nights, encouraging longer stays and rewarding extended loyalty. On the other hand, shorter stays or last-minute bookings may have higher rates to optimize revenue or accommodate last-minute demand. Length of stay pricing provides flexibility for guests while also maximizing the hotel's occupancy and revenue.
By incorporating seasonal pricing and length of stay pricing, the Ritz-Carlton can tailor its room rates to different transaction characteristics and market conditions, ensuring a dynamic pricing strategy that reflects the value of its rooms and meets the demands of guests.
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Which of the following statements is true of the Vroom-Jago contingency model of leadership? a. It made the assumption that new leaders could take over as situations change. b. It states that the leader's responsibility is to increase subordinates' motivation to attain personal and organizational goals. c. It discusses the extent to which the leader's style is relationship- or task-oriented. d. It tells the leader precisely the correct amount of participation by subordinates to use in making a particular decision.
The following statement is true of the Vroom-Jago contingency model of leadership: It tells the leader precisely the correct amount of participation by subordinates to use in making a particular decision. So the right option is (d)
What is the Vroom-Jago contingency model of leadership?The Vroom-Jago contingency model of leadership is a decision-making process that assists leaders in determining the appropriate degree of participative decision-making in a specific circumstance.
The model has eight different leadership styles, each of which emphasizes the amount of involvement that employees should have in the decision-making process. The correct decision-making strategy for a given situation is determined by the leader's and subordinates' levels of expertise, team dynamics, and decision significance.
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Julio had $20,000 when his bank declared bankruptcy. Which of the following is true?A. Julio got all of his savings backB. Julio lost all of his savings C. Julio may get some of hismoney back after the bank sell itsassetsD. Julio lost half of his savings
When a bank declares bankruptcy, depositors like Julio are typically protected by deposit insurance schemes or government guarantees up to a certain amount. These schemes aim to ensure that depositors receive at least a portion of their funds back even if the bank fails.
In many countries, there are regulations in place to protect depositors and provide them with compensation in case of a bank failure. These regulations often establish deposit insurance programs that cover a specified amount per depositor, per bank. The actual amount of coverage can vary between jurisdictions.
When a bank declares bankruptcy, it will typically go through a process of liquidation or restructuring. In the case of liquidation, the bank's assets are sold to repay its creditors, including depositors. Depositors may receive a portion of their funds back based on the available assets and the order of priority in the bankruptcy proceedings.
While Julio may not receive all of his savings back, there is a possibility that he may recover a portion of his funds, depending on the bank's assets and the regulations and protections in place.
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is how much, or the quantity of a product or service that is desired by buyers at a given price.
Supply
Demand
Market economy
Command economy
WILL BE MARKED BRAILIEST!!
3.A company sees that sales of its speakers have decreased over the past
120 days. Its most likely option is to first
design a market research plan
visit some stores selling the product
stop production of the product
lower prices and see what happens
Answer:
They company goes out of business?
Explanation:
In terms of SUPPLY, what factors have contributed to the fall in oil prices?
Which of the following statements about electronic résumés is false? a. directions for submitting electronic résumés should be followed carefully. b. many companies only use electronically submitted or emailed résumés. c. electronic résumés should be typed in a standard word processing program. d. electronic résumés should be saved in html format. please select the best answer from the choices provided a b c d
An electronic resume is one that is sent to a potential employer via email. An electronic résumé is used to apply for employment online.
What makes an effective electronic resume?On an electronic resume might be provided in a distinct keyword section or integrated into the text. All text should be positioned to the left and in a plain typeface. Underlining, bolding, italics, and bullets should be avoided since they can cause problems with older OCR software.
Thus, Option D would be the false statement about electronic resumes.
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Answer:D
Explanation:Electronic résumés should be saved in HTML format.
c) Differentiate between Celebrity Advertising and Public Service Advertising.
Answer:
one has to do with advertising for a career and the other for the public and the well-being of others. also, celebrity advertising is for one person while public service advertising is for many.
Explanation:
A local bank’s advertising reads: "Give us $50,000 today, and we’ll pay you $800 every year forever." If you plan to live forever, what annual interest rate will you earn on your deposit?1.92%1.60%2.56%2.24%
Answer:
The correct response is Option b (1.60%).
Explanation:
According to the question,
Initial investment,
= $50,000
Perpetual annual cash flows,
= $800
Now,
The interest rate will be:
= \(\frac{Perpetual \ annul \ cash \ flows}{Initial \ investment}\)
On substituting the given values, we get
= \(\frac{800}{50,000}\)
= \(0.016\)
i.e.,
= \(1.60 \ percent\)
A person’s credit score can range from a low of 300 to a high of what number?
Answer:
yea i did this yesterday :) 850 ^^^^^^^
Explanation:
A person's credit score can range from a low of 300 to a high of 850 numbers.
A credit score is a number from 300 to 850 that rates a consumer’s creditworthiness. The higher the score, the better a borrower looks to potential lenders.
A credit score is based on credit history: number of open accounts, total levels of debt, repayment history, and other factors. Lenders use credit scores to evaluate the probability that an individual will repay loans in a timely manner. There are several different credit bureaus in the United States, but only three that are of major national significance: Equifax, Experian, and TransUnion. This trio dominates the market for collecting, analyzing, and disbursing information about consumers in the credit markets.
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What is the marginal revenue and marginal cost for this diagram?
What type of market is this? Explain your answer
Marginal revenue :
2060120200300420560Marginal cost :
108210192640It is a Monopolistic market structure because marginal revenue is greater than the marginal cost.
Marginal Revenue is the increase in the revenue by selling one extra product in the market. It is calculated by the Change in revenue divided by the change in output.
Marginal cost is the change in cost by producing one extra unit of output. It is calculated by a change in cost divided by the change in units.
Monopolistic market structure is where there are multiple companies producing similar products in the market.Example for monopolistic structure can be a grocery store.
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What is your idea of success?
Answer:
my idea of success is accomplishing all of one's goals.
Which tasks commonly are performed in Maintenance, Installation, and Repair jobs? Check all that apply.
A. setting up equipment
B. fixing problems with machinery
C. estimating a project’s cost
D. designing equipment
E. teaching people to use equipment
F. writing instructions for assembling equipment
G. purchasing manufacturing equipment
Answer:
Which tasks commonly are performed in Maintenance, Installation, and Repair jobs? Check all that apply.
setting up equipment
fixing problems with machinery
estimating a project’s cost
teaching people to use equipment
Explanation:
Tasks commonly are performed in Maintenance, Installation, and Repair jobs Setting up equipment fixing problems with machinery estimating a project’s cost teaching people to use equipment
What is the equipment?
Equipment is a real long-term asset that provides value to a company over many years of operation. Equipment examples include cars, trucks, and manufacturing machines. They differ from intangible assets (such patents, trademarks, or copyrights), which lack a physical form, in that they are tangible because they do.
Materials and Equipment refer to all types of products, including machinery, vehicles, consumables, parts, and components, as well as any spares or replacements; Samples 1, 2, and 3.
To produce high-quality, economical products, equipment must be carefully developed. Since it is eventually used as the means to implement all of the other enabling technologies, equipment design is necessarily the widest category of the six enabling technologies.
Therefore, option (A, B) is correct.
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Assignment: You are planning to open a 30 room hotel in Toronto. Your hotel will have several amenities including an indoor pool and sauna, an exercise room and a restaurant which is not licensed. You also have a huge banquet room which is available for large functions such as weddings and other special events. You also plan on playing music at every event and in the lobby of the hotel. Based on the information contained in the power point slides answer the following questions:1) Given the different services and amenities what legislative Acts do you need to comply with? (i.e the Inn keeper's Act etc.) 2) If you plan on serving alcohol in the banquet room what type of license do you need? Describe the process to obtain this license. ( consult the Alcohol and Gaming Commission website).3) How will your municipality govern what you can do? Describe the possible issues when trying to get approvals.4) When you are both constructing and operating your business what type of taxes will you have to pay? (i.e HST, employer taxes etc.)
The legislative Acts that need to be complied with: include the Innkeepers Act, the Consumer Protection Act, the Fire Protection and Prevention Act, the Accessibility for Ontarians with Disabilities Act, and the Occupational Health and Safety Act.
If serving alcohol in the banquet room, a Special Occasion Permit (SOP) is required from the Alcohol and Gaming Commission of Ontario (AGCO). The process to obtain this license involves filling out an application, providing supporting documents, and paying a fee. The AGCO will review the application and may conduct an inspection before granting the license.
The municipality will govern what the hotel can do through zoning bylaws, building codes, and other regulations. Possible issues when trying to get approvals include meeting building and safety codes, noise and traffic concerns, and the need for permits and licenses.
When constructing and operating the business, taxes that will have to be paid include the Harmonized Sales Tax (HST) on goods and services, employer taxes such as Canada Pension Plan (CPP) and Employment Insurance (EI) premiums, property taxes on the building and land, and business income tax on profits earned. It is important for the hotel to comply with all tax laws and regulations to avoid penalties and fines.
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You are planning to open a 30 room hotel in Toronto. Your hotel will have several amenities including an indoor pool and sauna, an exercise room and a restaurant which is not licensed. You also have a huge banquet room which is available for large functions such as weddings and other special events. You also plan on playing music at every event and in the lobby of the hotel.
Based on the information contained in the power point slides answer the following questions:
1) Given the different services and amenities what legislative Acts do you need to comply with? (i.e the Inn keeper's Act etc.)
2) If you plan on serving alcohol in the banquet room what type of license do you need? Describe the process to obtain this license. ( consult the Alcohol and Gaming Commission website).
3) How will your municipality govern what you can do? Describe the possible issues when trying to get approvals.
4) When you are both constructing and operating your business what type of taxes will you have to pay? (i.e HST, employer taxes etc.)
Would you be more likely to get solar panels on your home or an electric vehicle because of tax incentives? Why or why not?
Answer:
I would most likely do solar panels because the addition of a solar energy system to your home doesn't increase the assessed value of your home. As a result, your property taxes don't go up.
Explanation:
Elena Fowler is applying for a loan from a bank. The bank knows she owns a house worth $160,000 and a car with a trade-in value of $12,000 as well as other personal assets worth approximately $44,000. Which one of the 5 Cs of credit is the bank looking at?
The bank is looking at Elena Fowler's collateral when considering her loan application. Collateral is one of the five Cs of credit, and it refers to the assets a borrower can pledge to secure a loan.
Collateral refers to the assets or property that a borrower offers as security for a loan.
The other 4 Cs of credit are Capacity (the borrower's ability to repay the loan), Capital (the borrower's net worth), Character (the borrower's credit history and reputation), and Conditions (the overall economic conditions and how they may affect the borrower's ability to repay the loan).
In this case, Elena Fowler owns a house worth $160,000, a car with a trade-in value of $12,000, and other personal assets worth approximately $44,000, which she can use as collateral for her loan.
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Write down two or three ways you compare yourself to others.
Next, 2 cases will be presented that must be analyzed and where you will use the
concepts of mixed melting point, purity, etc. This must be documented in the part of the
conclusion of the report.
Case #l: A student performs two melting point media on a product
crystalline. In a determination, the capillary tube contains a sample of
approximately 1 to 2 mm in height and the melting range is 141°C to 142°C. In the
another determination, the height of the sample is 4 to 5 mm, and the melting range is
found at 141°C - 145°C. Explain the wider range of observed melting point
for the second sample. The melting point reported in the literature for the compound
is 143°C.
me
Case #2: You have an unknown compound found to be 120°C - 122°C,
based on the physical characteristics it is suspected that the unknown could be acid
Benzoic or succinic anhydride. Mixed melting point test was performed
found that the temperature range was 121°C - 123°C. Indicate the necessary steps
to determine identity and cal could be the same (explain).
In Case #1, the wider melting point range in the second determination suggests the presence of impurities or a mixture of compounds.
In Case #2, the mixed melting point falls within the suspected compounds' range, requiring further tests and comparisons to determine the identity of the unknown compound.
In Case #1, the wider range of observed melting points in the second determination can be attributed to the presence of impurities or a mixture of compounds within the sample. This suggests that the second sample is less pure compared to the first sample and may contain other substances with lower or higher melting points.
In Case #2, the mixed melting point test result falls within the range of the suspected compounds, benzoic acid and succinic anhydride. To determine the identity of the unknown compound, further steps can be taken. First, a comparison of the physical properties of the unknown compound with the known properties of benzoic acid and succinic anhydride can be made.
This includes considerations such as solubility, odor, and appearance. Additionally, other tests like chemical reactions or spectroscopic analysis can be conducted to confirm the identity of the compound. The final identification should be based on a comprehensive evaluation of all the data obtained from various tests and comparisons, ensuring a reliable determination of the unknown compound.
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if inflation were rising at an above average rate, the type of mutual fund that would typically increase in value is a:
The type of mutual fund that would normally grow in value if inflation rose above average is a: Precious metals fund.
A mutual fund is a professionally managed investment vehicle that pools money from several individuals to buy securities. While open-ended investment firms in the UK and SICAVs in Europe are comparable worldwide structures, the phrase is widely used in the US, Canada, and India. Money market funds, bond or fixed income funds, stock or equity funds, or hybrid funds are often used classifications for the main investments of mutual funds. Funds can also be divided into actively managed funds, which strive to outperform stock market indices but often have higher fees, and index funds, which are passively managed funds that mimic the performance of an index, like a stock market index or bond market index. The best mutual fund models are open-end.
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the primary output of the planning cost management process is a change request.a. trueb. false
The statement "The primary output of the planning cost management process is a change request" is false.
The planning cost management process is a part of the project management knowledge area that focuses on developing an effective plan to manage costs throughout a project's lifecycle. The primary output of the planning cost management process is the Cost Management Plan. The Cost Management Plan is a document that outlines how costs will be estimated, budgeted, monitored, and controlled throughout the project.
The Cost Management Plan includes various components such as the methods and techniques to be used for cost estimation, the level of accuracy expected in the cost estimates, the process for tracking and controlling costs, and the reporting mechanisms for communicating cost-related information. It also includes the roles and responsibilities of the project team members involved in cost management activities.
While change requests are an important aspect of project management, they are not the primary output of the planning cost management process. Change requests typically arise during the execution and monitoring phases of the project when there is a need to modify the project scope, schedule, or budget due to unforeseen circumstances or evolving requirements. Change requests are evaluated and managed through a separate process known as change control, which is distinct from the planning cost management process.
In summary, the primary output of the planning cost management process is the Cost Management Plan, not a change request.
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Provides a means to clearly show economic relationships in two-dimensional space. Economic analysis is often concerned with two variables confined to the upper-right (northeast) quadrant of the coordinate number system.
Answer:
Graphs
Explanation:
A graph is a pictorial representation that shows a relationship between two or more variables. In the context of economics, it represents the clearly relationship in two-dimensional space. Also the economic analysis would be concerned with respect to the two variables.
Therefore as per the given situation, the graph should be the answer
Hence, the same is to be considered
A graph is a representation of a relationship between two or more variables in a visual format. It illustrates the clear relationship in two-dimensional coordinate numbers in the context of economics.
What is the coordinate number?
In a complex or coordination compound or a crystal, the coordination number, also known as Ligacy, is the number of atoms, ions, or molecules that a central atom or ion has as its nearest neighbors.
Thus, graphic representation shows the relationships between variables.
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The town of Fairness has a law that says that wages should be high enough to ensure that all people can afford to buy enough food to feed their families. The law that sets food prices low enough to meet these requirements would be an example of a:
Answer:
Price ceiling
Explanation:
The price ceiling means the maximum price that is charged by the supplier to the consumer. If is not affected so it is above equilibrium price and in case when it is below than the demand is greater than the supply.
So in the given question, it is mentioned that the prices of food are set low that are sufficient to meet the requirement represent the price ceiling example