WALAS started Business on 01/01/2010 with a capital of Three Million Ghana cedis(GH 3000000) in the Bank. WALAS 's Investment Portfolio as at 31/12/2014 included Poultry Farming, Fores, Sale of Tires and a Shopping Mall. The first Business to be opened was the Poultry Farm on 01/01/2010 and the remaing three Businesses were opened in 2011/2012/2013 respectively. The Poultry Farm was opened in his own home town at Bunkuugu Yenyo where the Product enjoys a high market share but the growth in that market, however, is low. The Forex is operating in the Business city of Accra in which the market share is substantially high but with high Growth rate in the Forex Industry. WALAS has approached his Bankers for a Loan Facility of Two Million Ghana cedis (GH 2000000 Cedis) for recapitalisation. WALAS is very much concerned about the Tire Business which always gives him a sleepless night. The growth rate within the Tire Industry is high yet share of the WALAS market is infinitesimal. The location of the Shopping Mall was such that the market share was very low at the same time the growth rate within the Industry is also very low. WALAS is an Entrepreneur who is not risk averse and has the conviction that the success and failure of his Business is within his control and external influence has nothing to do with the success or failures of his Business. As an Entrepreneur he sacizes all opportunities that comes his way and has always have high sense of Urgency and Achievements. He always finds his Business. He is also not Troubled by any unstructured situation because he always finds his way out. His Bankers agreed to approve of a loan Faccility he requested for recapilasation at 12.5% interest per annum. Since the inception of the Business on 01/01/2010 WALAS is convinced that the only way to continuously increase the share of his market in any of the Investment for the the next 3-5 years and increase his sales volume all things being equal is to provide the lowest possible price in all his Business. Additionally, potential customers are not homogenous because they have different needs, wants, taste, income level and characteristics. One way by which they can get larger share of the market in the next three to five years is to concentrate more on customers in the middle level income. WALAS is becoming a Successful Business Person. Since the inception of the Business it was an established policy to ensure prudent management of the business financial position for development, growth, sustenance and realization of its profit motives in the short-long term through the deployment of sound financial practices such as effective record-keeping, frequent inventory taking, monitoring of cash coming and going out of the Business, other relevant accounting control measures and strategic sourcing and disbursement of funds will be strictly adhered to. At the end of every Accounting Period, the Accountants of WALAS will prepare the Trading Profit and Loss Account of each Business and the Statement of Financial Position to ascertain the Net worth of each Business entity and advise the Proprietor on the performance of each Business.
Answers
WALAS strives for continuous development, growth, and profitability through prudent financial management and seizing opportunities in the market.
WALAS, a business started on 01/01/2010, initially had a capital of Three Million Ghana cedis (GH 3000000). The investment portfolio included Poultry Farming, Forex, Sale of Tires, and a Shopping Mall. The Poultry Farm was the first business to be opened, followed by the other three businesses in subsequent years. The market share for Poultry Farming in the hometown of Bunkuugu Yenyo was high, but with low growth. The Forex business operated in Accra with a substantially high market share and high growth in the industry. WALAS approached their bankers for a loan facility of Two Million Ghana cedis (GH 2000000) for recapitalization.
However, WALAS is particularly concerned about the Tire Business, as it gives them sleepless nights. The growth rate in the Tire Industry is high, but WALAS's market share is very low. The location of the Shopping Mall also has a low market share and low growth rate in the industry. Despite external factors, WALAS, as an entrepreneur, believes that the success or failure of the business is within their control and is not influenced by external factors. WALAS seizes opportunities, has a high sense of urgency and achievement, and navigates unstructured situations effectively.
To increase market share and sales volume, WALAS aims to provide the lowest possible price in all their businesses and target customers in the middle-income level. The business follows sound financial practices, including effective record-keeping, inventory management, cash monitoring, accounting controls, and strategic sourcing and disbursement of funds.
At the end of each accounting period, the accountants prepare the Trading Profit and Loss Account and the Statement of Financial Position to assess the performance and net worth of each business entity, providing guidance to the proprietor.
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Related Questions
Everybody should leave this app and go to question cove. You do not need any points to ask questions and you get correct answers in as little as 30 seconds. Not to mention you can easily message somebody without any problems.
Answers
Answer:
what happened to karlie
Explanation:
Research cultural business communication etiquette for a country outside of the USA, and list 5 tips for successful cultural communication and etiquette in a business setting. Include the name of your country, the 5 tips (bulleted statements) and the website URL of your research used.
Answers
Answer:
wow
Explanation:
whats the meaning of oligopoly and monopoly market structure
Answers
Answer:
Oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence, whereas monopoly is one firm, a duopoly is two firms and an oligopoly is two or more firms.
Explanation:
got it from class with help from investopida
What role do sources play in validating an argument? Are we able to rely on the internet to provide complete and truthful information? Of course not, but how do we discern? How do we determine the motives of the people we're reading? One thing we have learned is that the people screaming most loudly about dishonesty are the ones being most dishonest. That isn't by accident. So, what do you do? And how does that apply to this week's content?
Answers
Incomplete question. However, I answered from a general research perspective.
Explanation:
What role do sources play in validating an argument?
Well, the term source basically refers to the originator of any information. We have sources that are considered credible sources (like Encyclopedia, Journal Magazine, Newspaper, etc) and others that are considered incredible sources (general social media post). Knowing the kind of source could thus help validate an argument.
Relying on the internet to provide complete and truthful information is difficult considering the amount of fake news available today.
According to the law of supply what's the result of an increase in the supply of workers for a job if all other factors remain equal?
Answers
Answer:
According to the law of supply, an increase in the supply of workers for a job if all other factors remain equal means the company wants to be efficient and it is also proof that the company is making more profit which signals the demand for the commodities they produced as increased drastically.
Explanation:
The law of supply work in the dimension of price, the number of goods available in the market, and it is hugely affected by demand. Now, when the price of goods decreases, it makes production by producers decrease as well and staffs are also laid off to avoid profit loss by the producers. This changes when the price of commodity increases as it makes producers of the commodity have the capacity to employ more staff to maximize time and this also causes the producers to increase sales. However, the higher demand for a commodity would also increase the supply of that commodity.
Answer:
The wage rate for that job will be pushed down.
Explanation: I just took the test and got it right
3. which airline showed the greatest change in stock prices during this period (august to december 2014)?
Answers
Answer:
southwest airline
Explanation:
Southwest Airlines showed the greatest change in stock prices during this period (august to December 2014).
What is the greatest change in stock prices of Southwest Airlines?Finding market-beating equities is the main goal of stock selection. Even the finest stock picker, however, will only succeed with some choices. Given that the share price of Southwest Airlines Co. has fallen 44% over the past five years, some shareholders may now be unsure about keeping their investment in the company. And because the stock has fallen 38% in the past year, it's not only long-term investors that are sorrowing.
Unfortunately, with prices down 13% in the past 30 days, the share price trend is still fairly gloomy. We do see, however, that the overall market has declined by 8.0% over that time, which may have had an impact on the share price. Southwest Airlines went from a loss to profitability over the course of five years of rising share prices.
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What is the difference between marginal cost and marginal revenue?
a) Marginal cost is the money earned from selling one more unit of a good. Marginal revenue is the money paid for producing one more unit of a good.
b) Marginal cost is the money paid for producing one more unit of a good. Marginal revenue is the money earned from selling one more unit of a good.
c) Marginal cost is the money a producer might make from one more unit. Marginal revenue is the money a producer actually makes from one more unit.
d) Marginal cost is the money a producer actually makes from one more unit. Marginal revenue is the money a producer might make from one more unit.
Answers
Which buyer type has an open mind and tends to take chances on new products without hesitation?
a. ready buyer
b. logical buyer
c. stubborn buyer
d. emotional buyer
Answers
Answer:
A
Explanation:
The tendency for managers to compare the performance of divisions within a company to each other using the same metrics regardless of each division's unique characteristics is known as _____ bias. a.surrogation b.division c.metrics dmon measures
Answers
Answer:
Metrics Bias.
Explanation:
Metrics is defined as a standard of measurement while bias can be explained to occur when there is lack of fairness in arriving at a decision.
Using the same metrics within a company to evaluate the performance of different divisions where each division has its own unique characteristics will not give a fair decision and due to metrics bias as the metrics used may tend to favor some divisions more than others.
The quantity supplied for sugar has decreased due to a change in price. How would this change in quantity supplied be represented on the supply curve
Answers
Answer:
Explanation: do your best
Vinegar Flow: The Italian city of Modena is famous for the quality of its aceto balsamico tradizionale — aged balsamic vinegar. The following is a simplified description of how it is made. Vinegar (generally made from a combination of Trebbiano and Lambrusco grapes) spends time in a large (100 liter) chestnut barrel before moving into a smaller (40 liter) mulberry barrel, after which it is finally sold. The exact process is as follows: • At the end of each year, half of whatever vinegar remains in the smaller barrel is drawn off into 250 ml (0.25 liter) bottles and sold. • The smaller barrel is refilled from vinegar in the larger barrel. In order to allow breathing space for the necessary acetic oxidation, the smaller barrel is only filled to 75% of its capacity. • The larger barrel is then refilled (again, only to 75% of its capacity) with new vinegar. • Over the course of the year, 10% of the vinegar in each barrel will evaporate through the wood. For convenience, you should assume that this evaporation occurs all at once at the very end of the year (just before vinegar is removed from each barrel).
1. Calculate the number of 250 ml bottles of balsamic vinegar that are produced each year.
2. Calculate the volume of vinegar (in liters) that is transferred from the 100-liter chestnut barrel to the 40-liter mulberry barrel each year.
3. Calculate the volume of new vinegar (in liters) that is added to the larger 100-liter chestnut barrel each year.
4. What is the average age of the balsamic vinegar (in years) when it is bottled (upon leaving the smaller mulberry barrel)?
Answers
1. The number of 250 ml bottles of balsamic vinegar produced each year is 80 bottles.
2. The volume of vinegar transferred from the 100-liter chestnut barrel to the 40-liter mulberry barrel each year is 20 liters.
3. The volume of new vinegar added to the larger 100-liter chestnut barrel each year is 25 liters.
4. The average age of the balsamic vinegar when it is bottled is 2 years.
To calculate the number of bottles produced each year (question 1), we divide the volume of vinegar drawn off from the smaller barrel (0.25 liters) by the volume drawn off in each bottle (0.25 liters per bottle). This results in 1 bottle being produced for every draw-off.
For question 2, the volume of vinegar transferred from the 100-liter chestnut barrel to the 40-liter mulberry barrel is determined by the refill process. Since the smaller barrel is only filled to 75% of its capacity, 25% of the vinegar (which is 10 liters) remains in the larger barrel. This 10 liters is then transferred to the smaller barrel, resulting in a net transfer of 20 liters.
In question 3, the volume of new vinegar added to the larger 100-liter chestnut barrel is also 25 liters. This is because the larger barrel is refilled to 75% of its capacity, which amounts to 75 liters. Subtracting the remaining vinegar (10 liters) gives us 65 liters, and the difference between the initial volume (100 liters) and the remaining vinegar is the amount of new vinegar added.
Lastly, in question 4, the average age of the balsamic vinegar when it is bottled can be determined by considering the time it spends in the barrels. The vinegar spends one year in the larger barrel and one year in the smaller barrel. Therefore, the average age is 2 years.
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Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Department completed its processing of 25,000 units and transferred them to the next department. The cost of beginning inventory and the costs added during January amounted to 599,780 in total. The ending inventory in January consisted of 3,000 units, which were 80% complete with respect to materials and 60% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows: Materials Labor Overhead Cost per equivalent unit .................... $12.50 $3.20 $6.40
(c) Prepare a cost reconciliation for January. (Note: You will not be able to break the cost to be accounted for into the cost of beginning inventory and costs added during the month.)
Answers
The total cost accounted for is 599780.
What is Cost reconciliation ?
Cost Conciliation is the process of checking records to ensure that the design's charges match ongoing exertion in the design.Generally, the records are checked using three- way matching which is a payment verification fashion to ensure that the contractor's costs are valid.Reconciliation of Cost and Financial Accounts is a process to find all the reasons behind disagreement in profit which is calculated as per cost accounts and as per fiscal accounts. There are lots of particulars which are shown in the profit and loss regard only when we make it as per fiscal account rules. Bank conciliation is important because it helps associations identify possible crimes in deals that lead to a difference between the account records and the bank statement.Here,
Total cost of beginning work in process and cost added = 599780
Cost accounted as = 0
Cost of units transferred out = 552500
Cost of ending work in process = 47280
So, Total cost accounted as = 599780
Thus, The total cost accounted for is 599780.
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If you’re not careful, it can become costly to use P2P payments. Name at least 3 ways you could LOSE money using person-to-person apps
Answers
P2P payment is a medium of transferring funds to purchase cryptocurrencies.
Cryptocurrencies means an electronic form of currencies with huge volatility.
Three ways by which one can lose money on the platform:
If money are sent to the wrong bank account.Money sent to wrong address are irretrievable.Through the intelligence of scammersIn conclusion, in an attempt not to lose money, Crypto-currencies service providers introduced the P2P known as Peep-to-Peer.
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how to do presentation
Answers
Explanation:
You can go to Microsoft words or Power point..
These can help you type your presentation or if on phone you can go to normal Notes app or word app....
I hope this helps you
When you are a speaker, it is important to know your audience.
A) true
B) false
Answers
Answer:
A) True
Explanation:
You want to know general things about your audience because you won't speak the same way to kindergartners as you would college students. That's just one example.
After a heavy rainstorm, Barbara’s dog left muddy paw prints all over her back patio. She decided to rent an electric pressure washer to clean up the mess. The piecewise function below shows the rental charges for the pressure washer, dependent upon how many hours she rents it. Due to high demand, you cannot rent the washer for more than 24 hours at a time. Barbara’s brother asked to use the washer and agreed to pay Barbara for any additional monies owed. Mc028-1. Jpg If Barbara used the washer for 3 hours and her brother returned it to the store 7 hours after she rented it, how much does her brother owe her? $15. 00 $41. 00 $60. 00 $61. 0.
Answers
Depending on how many hours she leases the pressure washer for, the piecewise function below displays the rental costs.$$f(x)=leftbeginmatrix15, and 0 lea x lea 3 8(x-3)+15, and 3 x lea 24 end matrix right.
$$We have to calculate the additional rental charges of the electric pressure washer rented by Barbara's brother. Here, Barbara used the washer for 3 hours and her brother returned it to the store 7 hours after she rented it.As Barbara used the washer for 3 hours, she paid $15.00. Then, her brother returned the washer after 7 hours, so he used it for 7-3=4 hours.
So, the rental charge for additional 4 hours, y is given by,$$y = 8(x-3)+15$$where x = 4, as the additional rental time for which Barbara's brother used the washer is 4 hours. Put this value in the above equation, we get;$$y=8(4-3)+15$$$$y=8+15$$$$y=23$$Hence, the main answer is $23.00. The given statement indicates that Barbara's brother agreed to pay her for any additional monies owed. As Barbara already paid $15.00 for 3 hours of rental period, therefore, her brother owes Barbara for the additional rental charge.
That is;$$\text{Total additional rental charges} = \text{Rental charge for the additional time} - \text{Already paid rental charges}$$$$\text{Total additional rental charges} = $23.00 - $15.00$$$$\text{Total additional rental charges} = $8.00$$Therefore, Barbara's brother owes her $8.00.
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The problem needs additional input - a chart or a function showing the rental charges for the pressure washer. After obtaining this, one would add up the hours Barbara and her brother used the washer to determine the total cost.
Explanation:In the problem, Barbara rents the pressure washer for 3 hours, while her brother uses it for an additional 7 hours, totaling 10 hours of rental time. However, there is a crucial piece of information missing from this problem, which is the chart or function showing the rental charges for the pressure washer dependent on time. Without that information, it's impossible to determine how much the brother would owe Barbara for the use of the washer. The proper solution would require this information to calculate the payment to be made.
The given piecewise function represents the rental charges for the pressure washer:
For 0 ≤ x <= 3, the rental charge is $15.
For 3 ≤ x <= 24, the rental charge is $5 per hour.
Since Barbara used the washer for 3 hours, she paid $15. When her brother returned the washer 7 hours after she rented it, he used it for a total of 10 hours. Each additional hour costs $5, so her brother owes her $15 + $5 * (10-3) = $60.
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how many questions are on the math section of the ACT test
Answers
Answer:
isnt it usually 60?
Explanation:
step-by-step
Suppose Nick’s salary is tied to an inflation index based on the average prices of food and clothing, with
(5)1.1 (4) Use the marginal cost to determine the firm’s output level and profit at prices of $30 and $20. At what
Assume a monopolist faces a market demand curve P = 100 -2Q and has the short-run total
equal weights on each. This year,the index (and thus Nick’s salary) increased by 4%. Determine the effect
b)The price of food increased by more than the prce of cothing, and Nick spent most of his
Answers
Based on the given information, Nick's salary is tied to an inflation index based on the average prices of food and clothing. The index increased by 4% this year. In this situation, the effect on Nick's salary would depend on the relative increase in the prices of food and clothing.
b) If the price of food increased by more than the price of clothing, and Nick spent most of his salary on food, then the increase in the price of food would have a greater impact on his salary. Since the index is based on equal weights for food and clothing, a larger increase in the price of food would result in a higher inflation index and, consequently, a higher adjustment in Nick's salary.
The specific effect on Nick's salary would depend on the exact percentage increase in the price of food and clothing. If the price of food increased significantly more than the price of clothing, then Nick's salary increase would be larger due to the higher weight given to food in the inflation index.
It's important to note that the overall impact on Nick's purchasing power would also depend on the proportion of his salary spent on food and clothing. If food constitutes a significant portion of his expenses, the increase in food prices would have a greater effect on his overall affordability and standard of living.
In conclusion, if the price of food increased more than the price of clothing and Nick spends a significant portion of his salary on food, the increase in the price of food would have a larger impact on his salary adjustment. The specific effect on Nick's salary would be determined by the relative increases in the prices of food and clothing and the weighting given to each in the inflation index.
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What does accounting help you achieve in an organization?
Answers
Answer:
Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.
Explanation:
TRUE/FALSE. one disadvantage of budgeting is that budgeting makes it more difficult to coordinate the plans and activities of departmental managers.
Answers
False. Budgeting does not make it more difficult to coordinate the plans and activities of departmental managers. On the contrary, it serves as a valuable tool for coordination by providing a framework for communication, collaboration, and aligning goals within an organization.
One disadvantage of budgeting is not that it makes it more difficult to coordinate the plans and activities of departmental managers. Budgeting actually serves as a tool for coordination and collaboration among managers within an organization. It helps align the goals and objectives of different departments by providing a framework for resource allocation and setting targets. Through the budgeting process, departmental managers can communicate their needs and priorities, and work together to develop a comprehensive plan that supports the overall organizational objectives. Budgeting facilitates coordination by providing a clear roadmap and guidelines for decision-making, fostering communication and collaboration among managers. Budgeting enables departmental managers to have a shared understanding of the organization's financial resources, priorities, and constraints. It encourages them to work collaboratively to optimize resource allocation and make informed decisions that align with the organization's strategic direction. By involving managers in the budgeting process, coordination is enhanced as they gain visibility into the financial implications of their department's plans and activities. They can assess the impact of their decisions on other departments and make adjustments as needed to ensure overall organizational coherence. Through regular budget reviews and monitoring, managers can identify any potential conflicts or misalignments early on and take corrective actions, further strengthening coordination across departments.
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If you buy enough different stocks, you can diversify out all risk in the stock market.
a. True
b. False
Answers
False. You can diversify out all market risk if you buy a large enough variety of equities. Due to the numerous businesses that fail every day, the stock market is regarded as one of the riskiest investments.
An investor can control risk and lessen the volatility of an asset's price changes by diversifying their holdings. Although your portfolio may be well-diversified, keep in mind that risk cannot ever be totally avoided. Diversification can lower risk, but it cannot completely remove it.
The danger of holding an excessive amount of a single stock, such as Amazon, or stocks market in general, as comparison to other investments, is decreased through diversification. According to The Motley Fool, investors have to hold at least 25 different equities.
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What is your primary source of investment funds?
A. Saving or personal income
B. Pension or retirement
C. Insurance payout
D. Inheritance
E. Gift
F. Sale of business or property
G. Something else
Answers
Answer:
A. Saving or personal income
Explanation:
Which statement best summarizes the relationship between investments and
productivity?
A. Companies with high levels of productivity never need to worry
about investment.
B. Companies use investments to reduce their need for high levels of
productivity.
C. Companies with poor productivity use investments to become
more efficient
D. Companies use investments to reduce the opportunity cost of loy
productivity
SUBMIT
PREVIOUS
Answers
Answer:
The answer is D
Explanation:
companies invest to make money without using high levels of productivity
WILL GIVE BRAINLIEST
Select the correct answer from the drop-down menu.
Which type of college credit program does the statement describe?
In a(n) _______ program, students can get credit for their high school classes as long as they take specific courses that a college will accept as transfer credits at the college level.
options:
A. INTERNATIONAL BACCALAUREATE
B. ADVANCED PLACEMENT
C. DUAL CREDIT
D. ARTICULATED CREDIT
Answers
Answer:
D.
Explanation:
Articulated credit let's you get credit from high school and transfer it to college.
Answer:
Its B
Explanation:
got it right
50 pts! I really need help on this. Ignore the distribution part. Dont waste my points ;-; Will give Brainliest
Market Analysis: Research three countries you would like to distribute your game to and summarize the games, their prices, and how they are distributed in those markets (your competition). If you find that you might have chosen a market that is already too competitive, this is the time to identify another country and change your plan.
Countries I chose:
Japan
United States
Great Britain (UK)
Answers
Answer:
Japan 183-192billon dollars per year
USA 18.4 billion dollars
UK 5.05billion dollars
The law of demand relates primarily to which of the following?
A
the actions of producers in response to changes in prices
B
the actions of producers in response to changes in production costs
C
the actions of consumers in response to changes in prices
D
the actions of consumers in response to changes in production costs
Answers
C. The actions of consumers in response to change in price.
Explanation:
Law of demand states that people will demand lower quantity of a good at a higher price. This law is one the fundamental principles of Economics.
The law of demand relates primarily to the actions of consumers in response to changes in prices. Thus option (C) is correct.
What is demand?A demand of a product or a commodity is how much a consumer is willing and able to pay for a product at a given time.
The law of demand states the relationship between price and quantity demanded, ceterus paribus. It states that when the price of a product increases its demand decreases, other things remaining constant and vice versa.
The graphical representation of the law of demand is known as demand curve . When the tuition fees of a college falls then the demand for college enrollment will rise.
The law of demand relates primarily to the actions of consumers in response to changes in prices. Therefore, option (C) is correct.
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Question 7 Marginal analysis is about the "one more." More is less, unless profits (or net benefits) increase with the additions. True False
Answers
The statement "More is less, unless profits (or net benefits) increase with the additions" is true.
Marginal analysis is about "one more." When it comes to increasing production, businesses make use of the marginal analysis concept. When a business wants to manufacture an additional product unit, this method helps them understand how it will affect their total production cost and profit margin.
The concept of marginal analysis may be applied to any business or investment decision in which costs and profits are involved. Marginal analysis has a significant impact on the profitability of a company. It is a method of analyzing costs and profits on a per-unit basis.
A business can use the marginal analysis approach to calculate the profit it would make from producing and selling one more product. The marginal cost and marginal revenue can help in determining whether or not to proceed with the product or service production.
Let us understand the concept of marginal analysis with an example: Assume that you own a business that manufactures and sells T-shirts. If you add one more unit to your production run, the cost of producing it will be your marginal cost.
Assume your company's marginal cost is $5. To determine if the additional unit is worth manufacturing, you should compare its marginal cost to the marginal revenue it will generate. Assume that you will receive $10 for the extra T-shirt, which is the marginal revenue. In this case, the marginal analysis reveals that the extra T-shirt's production is a profitable one since the marginal revenue ($10) is higher than the marginal cost ($5).In conclusion, the statement "More is less, unless profits (or net benefits) increase with the additions" is true.
Marginal analysis helps businesses determine if adding one more unit of production will increase the profit margin or not. If the marginal revenue is greater than the marginal cost, the company should proceed with the production; otherwise, it is not worth manufacturing, and the company should not produce it.
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all of the following are characteristics of monopolistic competition except many firms in the industry. a few firms dominate the industry. product differentiation. advertising.
Answers
All of the following are characteristics of monopolistic competition except "a few firms dominate the industry."
In monopolistic competition, there are many firms in the industry, each producing a differentiated product. Product differentiation and advertising are also key features of this market structure.
In monopolistic competition, each firm has some market power due to product differentiation, allowing them to charge slightly different prices for their products. These differences can be real or perceived, and they are often established through branding, quality, or other unique features. Advertising plays a significant role in monopolistic competition, as firms use it to distinguish their products from those of competitors and attract consumers.
On the other hand, a market dominated by a few firms is characteristic of an oligopoly, not monopolistic competition. In an oligopoly, a small number of firms control a large market share, often leading to limited competition and the potential for collusion. These firms may still engage in product differentiation and advertising, but their market power is much more significant compared to firms in monopolistic competition.
In summary, monopolistic competition is characterized by many firms in the industry, product differentiation, and advertising, while the characteristic of a few firms dominating the industry is associated with oligopolies rather than monopolistic competition.
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Assume your company’s sales increased from $3 million last year to $10 million this year. However, your biggest competitor is still the market leader with a 40% share of the $200 million widget market. Your other four competitors had sales this year of $53 million, $38 million, $12 million, and $7 million, respectively. For this year, what is your company’s MARKET SHARE? Type only a number along with a $ or % (if appropriate). Dollar amounts should be rounded to the nearest cent; percentages to the nearest tenth. *
Answers
Answer: 5%
Explanation:
The market share for the company will be gotten using the formula:
= Sales generated by company / Total industry sales × 100
= 10/200 × 100.
= 5%
Therefore, the company's market share is 5%
Suppose you are employed and about to enrolled in philhealth. How will you evaluate reliability? What questions will you ask the compony?
Answers
Answer:
1. I will evaluate reliability by;
a. asking about the packages they offer
b. checking how long they have been in the business
c. interviewing other users to know how promptly they keep to processing claims
2. Questions I would ask the company include;
1. How competitive are you in the insurance industry?
2. What is your solvency like?
3. How capable are you to handle risks?
Explanation:
Philhealth is a national health insurance company in the Philippines that is meant to care for the insurance needs of people in the Philippines. They cater to several cadres of people which include;
the formal groupthe indigentsthe sponsored membersthe lifetime membersthe senior citizensand the informal economy.When an employer is offered health insurance under this platform, he would have to make the appropriate findings and ask the necessary questions such as the ones above before he becomes a client of the company.
Philhealth is an acronyms of Philippine Health Insurance Corporation
The Insurance co-operation provides service of Health Insurance which provides payment or reimbursement for one's health care costs as a result of surgeries, illness which makes one unable to work.I will evaluate the reliability of Philhealth by checking its review online and its financial record for the last year ended to asses its ability to afford compensation.
In conclusion, in the process of undertaking my Health Insurance policy, i will ask about the process to go through if any claim for heath insurance arises.
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