What is supply and demand?

Answers

Answer 1

Answer:

Supply and demand is an interection between the sellers of a product and the people who want to buy that product. Price is affected by supply and demand in a market. Supply and demand is affected by technology and working conditions.

Demand and supply can be graphed to calculate the best price for a product. The space where the 2 lines meet is the equilibrium price.

Related Questions

1. What is a functional dependency? Give an example not used
in the text.

Answers

A functional dependency (FD) is a relationship between two attributes, typically between the primary key and other non-key attributes within a table.

What is the functional dependency?

A constraint between two sets of attributes in a relation from a database is known as a functional dependency. It is a restriction placed on a relationship's two attributes.

Example:

If for every valid instance of X, the value of X uniquely determines the value of Y, then the Y attribute is functionally dependent on attribute X.

Therefore, a functional dependency is just a constant within the table.

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The definition of entrepreneurship holds the promise of...

Answers

Answer:

Growth, unlimited expansion and long-term financial gain.

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Answers

‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎

Marketing
Overview
Companies who want to grow their markets rely on market research to help determine consumer behavior and the most likely new potential marketplaces. Some companies design and conduct their own market research (primary research) while others choose to utilize data from existing market research conducted by other firms (secondary research).
Simulated Business Scenario
Vanessa is the owner of a well-known brand of handmade decorative items such as dream catchers and candle holders. The brand, Sirrah, has a reputation for designing and selling high-quality items at premium prices. Considering current economic conditions and the increasing influx of similar but inferior products from foreign suppliers, Vanessa is interested in expanding Sirrah into new markets.
Vanessa knows she needs to research various aspects of new potential marketplaces to determine customer insights and if a new market will tolerate new competition from her Sirrah brand. She is on a limited budget so, she is faced with two choices:

Design and conduct first-hand market research which is tailored to her specific marketing needs (primary research). Much more costly to implement but much more exacting to Vanessa's brand expansion.

Purchase or license existing research that is available from government agencies, trade associations, and marketing research firms that sell research reports (secondary research). Less specific but much less costly.

Questions
What are a few examples and pros and cons of primary and secondary research?
Which research would you advise Vanessa utilize to support her market expansion?

Answers

Answer + Explanation:

Pros of Primary Research :

it addresses specific research issues.As the data is collected personally it is directly related to research study It helps the researcher to obtain original data that is very specific to his needs of researching.The data is accurate and reliable.The data is up to date.

Cons of Primary Research :

It is a costly process.It is a very time consuming process.Inaccurate feedbacks could lead to collection of wrong data and information.This type of research requires a lot of resources for collecting data.It is not as readily accessible.

Pros of Secondary Research :

It is inexpensive mode of data collection.It is easily accessible .It is immediately availableit saves time of the researchersIt may help to clarify the Research question, understand the research problem and lead to a new conclusion of the data.

Cons of Secondary Research :-

The data is frequently outdated.It is potentially unreliable as the source of information is unavailable.The data may not be applicable to the research questions as it is not taken on the basis of the exact research problem.It may degrade the quality of research.the data may be outdated or incomplete.

Vanessa should use a mix of both primary and secondary research. She must frame questions for the primary research based on the secondary research where she must include those specifications, questions and information that has not been covered through the secondary research surveys .The primary research will prove costly to Vanessa ,however as she is selling handmade high end pricey products, the cost of research can be included in the prices of the products which will give her a market edge in comparison to other market competitors .She will be possessing much more reliable and specific information about target consumer taste and preferences which will help her to formulate the production, stock and pricing strategy of her products.

A profit-maximizing monopolist will set its price:

1 as far above ATC as possible.

2 along the elastic portion of its demand curve.

3 where the marginal cost curve intersects the demand curve.

4 as close as possible to the minimum point of ATC

Answers

A profit-maximizing monopolist will set its price along the elastic portion of its demand curve. Thus the correct answer is option 2.

What is monopolist?

When any market is ruled and regulated by individual identity for a particular commodity or service is referred to as a monopolist. Due to the absence of alternatives and competition, the monopolist is able to set high prices because they have sufficient market power.

The decision that will maximise profits for the monopoly is to produce at the level of output where marginal revenue equals marginal cost. This market monopolist will set their prices based demand curve proportion of elasticity.

Therefore, option 2 along the elastic portion of its demand curve is the appropriate answer.

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Starbucks – a matter of ethics!
Question 1. Encouraging Ethical Conduct: Did Johnson openly acknowledge that his decision was based in ethics and morality? Did his apology and actions promote awareness of an ethical issue? Did it create a positive or negative difference in the communities Starbucks serves? Did it make a positive or negative difference for Starbucks employees and customers?

Question 2. Showing Discipline in One’s Role: Does Johnson explicitly accept responsibility for the incident and provide direction for a course correction? Does he identify ways to collaborate with others when necessary? Does he show he understands what his role is in fixing this problem?

Question 3. Clarifying Culture: Did Johnson clarify his values and the company’s values in his apology and with his subsequent actions? Did Johnson’s apology and follow-up actions uphold Starbucks’ mission and core values? Did he identify gaps between stated and actual values? Did Johnson’s apology help Starbucks employees figure out if their personal values align with the company’s?

Question 4. If you were the CEO of Starbucks, what would you do after such an incident?

Answers

Yes , Johnson was known to have openly acknowledge that his decision was based in ethics and morality as he talked about Starbucks policy that is made to help keep the third place environment in line with their mission.

Did his apology and actions promote awareness of an ethical issue?

Yes, Johnson’s apology is one that calls for awareness regarding the issue as he did apologized to the two men who were involved in the case and also carried on some changes to prevent such scenarios from ever occurring again.

Did it create a positive or negative difference in the communities Starbucks serves?

The new policy did make a positive atmosphere in the community as it created a free society where people can study, work and also socialize while option to buying coffee or food.

Did it make a positive or negative difference for Starbucks employees and customers?

Yes, it also created a positive difference for Starbucks customers and employees as it portrays a friendly, safe, and welcoming environment set up already for consumers and a place where people can take a nap without any having any set backs. Employees were also given "unconscious bias training" that will be beneficial for the company.

Did his apology and actions promote awareness of an ethical issue?

In the issue with Starbucks, Johnson made an apology and the actions is one that boast awareness in regards to ethical issue. In the apology made by him, one can say yes, it formed a positive or negative difference in the communities where Starbucks is.

Does Johnson explicitly accept responsibility for the incident

Yes, Johnson explicitly took responsibility for the incident and he also apologizing and told the newsmen that the video was "hard to watch" since the treatment of the black men was unfair and should not have occurred in that way.

Does he identify ways to collaborate with others when necessary?

He did identify ways to work collaborate with others when necessary as he meant with the two men involved in the case and also organize a training for his employees.

Does he show he understands what his role is in fixing this problem?

Yes he does this is because he made every effort to deflate the issue and also prevent it from every occurring again.

Did Johnson’s apology and follow-up actions uphold Starbucks’ mission and core values?

Johnson’s apology and follow-up actions is one that uphold Starbucks’ mission and core values as he did investigate what happened and implement the right thing to do in such situation.

Did Johnson clarify his values and the company’s values in his apology and with his subsequent actions?

In course of issuing his apology, Johnson did clarify his values and the values of the company as he made effort for the training of the staff again and going to Philadelphia to speak to the two men who were involved in a dialogue.

Did he identify gaps between stated and actual values?

Yes he did he identify gaps between stated and actual values as he talks about what the company stands for and others.

He finds the gaps between stated and actual values and his apology did help Starbucks employees figure out if their personal values align with the company’s as they were said yo be given training again.

If you were the CEO of Starbucks, what would you do after such an incident?

If I am the CEO, I will makes sure to take the right steps immediately as Johnson delayed a little bit and as such people protested. I will keep the people up to date with information regarding how the issue is been handled.

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Journalize this transaction as if jumpstart paid cash

Answers

The journal entry for the provided transaction is recorded by debiting the office supplies and crediting the cash with equal amounts of $870.

What is a journal entry?

A journal entry is an entry passed in the book of the journal to record the financial transactions of a company.

The journal entry is recorded as follows:

Date Particulars Debit Credit

Jan 12 Office supplies 870

Cash 870

(To record the purchase of office supplies in cash)

The complete question should be as follows:

On January 12, JumpStart purchased $870 in office supplies. (a) Journalize the transaction as if JumpStart paid cash.

Therefore, the journal entry is described and recorded as above.

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Effective managers understand the importance of clear communication using different channels to advance the _________ strategy.

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Effective managers understand the importance of clear communication and hence use different channels to advance the organizational communication strategy

What is a communication strategy?

Communication strategy refers to the plans for speaking statistics associated with a selected issue, event, situation, or audience. They function as the blueprints for speaking with the public, stakeholders, or maybe colleagues.

Therefore, Effective managers understand the importance of clear communication and hence use different channels to advance the organizational communication strategy

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S
Alaskan Fisheries, Incorporated, processes salmon for various distributors and it uses the weighted-average meth-
costing system. The company has two processing departments-Cleaning and Packing. Data relating to pounds of
in the Cleaning Department during July are presented below:
Work in process inventory, July 1
Work in process inventory, July 31
Pounds of
Salmon
31,000
19,000
Equivalent units of production
Percent Completed
Labor and
Materials
Materials. Overhead
100%
100%
A total of 460,000 pounds of salmon were started into processing during July. All materials are added at the begin
in the Cleaning Department.
Required:
Compute the Cleaning Department's equivalent units of production for materials and for labor and overhead in the
59%
80%
Labor and
Overhead

Answers

The equivalent unit of production for materials would be 5,10,000 and for labor & overhead would be 4,93,490.

What is an equivalent unit of production?

An equivalent unit of production is the amount of work done by a manufacturer on the units of output that are partially completed at the end of an accounting period.

Solution:-

Material Labor & overhead

Work in process, July 1

31,000* 100% 31,000

31,000* 59% 18,290

Units started and completed 460,000 460,000

Work in process, July 31

19,000* 100% 19,000

19,000* 80% 15,200

Equivalent unit of production 5,10,000 4,93,490

For calculating equivalent unit of production, multiply the number of physical items by the percentage of the work done on them.

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how to write an effective persuasive claims and complaints message

Answers

An effective persuasive claims and complaints system starts with a real compliment, a factual description of the issue, or a point of agreement.

What are the Complaint messages?

A complaint message is a message that details damage, defects, or blunders that occurred with the given items and requests reimbursement.

Thus, an effective complaints message starts with a real compliment, a factual description of the issue, or a point of agreement.

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Discuss the concept of typosquatting.

Answers

Answer:

typos squatting is a form of cyber crime that involve hackers registering domains with divertly mispelled name of well known website hackers do this unsispecting vistas to ultimate native website typically for molecules proposes

Real GDP takes into account the effect of any price increases (inflation) and adjust for it. Nominal GDP doesn't adjust for inflation (price increases). True or false

Answers

This statement on the difference between Real GDP and Nominal GDP is True.

How is nominal GDP different from Real GDP?

Nominal GDP refers to the final value of goods and services in a country and it is calculated using current prices in the market.

Real GDP on the other hand, takes Nominal GDP and adjusts its for inflation to see the effects of price changes on production.

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1.Summarize and write what you have understood from this article
2. If you were the financial manager of an organization , trying to invest based on the
above information, how would you invest.
3. What precautions should the investor and the bank take to be more secured from
risk?

Answers

The understood point from this article was the problem faced in market activities in Bangladesh,India and China in general.

As an investor, how would i invest?

Because of the challenges faced by the credit system (surge of interest rate) because of the Cov-id-19 lock-down, then, i will adopt the policy of conservative financial practice for my organization.

What precautions should investor and bank take?

In order to be be more secured from risk, they need to be more risk-averse and effect an insurance policy to compensate against such risk peril, if any happens.

Answers

It is advisable for Robin to use the word-processing software to enter footnotes to number them systematically.

What is a Word Processing Software?

The different computer programs, which are easily to be performed in the Word documents, is done with the help and assistance of a word processing software.

The functions of Word Processing Software are performed automatically and saves a lot of time and man-hours.

Hence, option B holds states about the word processing software. Complete question is attached in the image below for better understanding of the concept.

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Step 1: Read each section of the scenario on your own. a) If you have questions about how to complete this assignment, ask your teacher for assistance. b) If you need help understanding any of the terms or equations used in the scenarios and questions, ask your teacher for assistance. Step 2: Participate in a group discussion to answer the questions in each section. a) Meet with your assigned group to discuss the questions for each scenario. b) Remember to take notes and follow the rules for group discussions. c) Use your notes from the discussion to answer the questions. Step 3: Use this checklist to evaluate your project. If you can check each box below, you are ready to submit your project.  Did you read each scenario carefully?  Did you participate in the group discussion?  Did you take notes during the discussion?  Did you support your ideas with facts and details from the scenarios?  Did you use your notes from the discussion to answer the questions?  Is your worksheet free of errors in spelling and grammar

Answers

Explanation:

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In 1965, at the age of 30, Bashir Choudhary opened a small grocery shop in his native town Lahore,
Pakistan. He was passionate about offering quality food at a good price. Because his parents and
grandparents owned a farm, he had been able to build good relationships with a network of farmers who
could provide fresh fruit and vegetables at competitive rates.
Moreover, Bashir paid particular attention to offering good service to his clients, making people always
feel welcome and cared for in the shop, and occasionally making the extra effort to deliver the goods
to his clients himself. Demand was high, he soon had the opportunity to open a second and then a third
shop in other parts of Lahore, a business was born.
Bashir traveled to Australia and USA to learn how supermarkets work there and decided to launch his
own supermarket: a large shop (he got inspiration from Australian supermarkets, Woolworths and
Coles) where customers could help themselves and pay at self-service cashier desks. After a few months
of trial and error, he found a successful formula based on his past success with offering good quality
and service at affordable prices, and the business took a new turn.
Supermarkets are known to be good businesses in terms of working capital requirements, with
customers paying by cash or debit card and suppliers being paid well after the delivery and sale of
goods. However, buying land and building the supermarkets required funds: Bashir turned to his family
and friends to seek capital and his local bank for loans. His parents gave him part of an inheritance in
the form of land and some cash, and a friend, Dawood, contributed capital in return for an eventual 10%
share of the business.
could use the brand in return for a fee. The franchises, in time, bought most of the merchandise through
a newly-created central buying structure. During the early years of his business, Bashir recruited
talented managers from other companies and set aside 10% of the capital to reward them.
Family business
Bashir's wife, Kausar, always supported him in his ventures. In the beginning, she helped with the
accounting, and when the business grew, she occasionally traveled with him to visit stores and attended
social events with key managers, franchisees, or suppliers. Their friend Dawood was often invited to
their home with his wife and only son Kashif. Through these occasions, Bashir and Kausar's daughter
Zoha and Kashif met and discovered that they enjoyed each other's company. They announced their
wedding in 1987.
Bashir could not think of a more exciting job for his children than working with him in the business.
As soon as they finished University, he invited his children Asif, Zoha, and Baber to join him. He also
gave each of them 5% of the shares in full ownership. The rest of the shares were split between the
managers (10%), Dawood (10%), Kausar (10%), and himself (55%). All three children started as
trainees in stores and worked their way up the ladder. Bashir did not show any favoritism towards them
and encouraged a competitive spirit between the three. Fortunately, Zoha and Baber got along very
well, but Asif, the eldest son, was unhappy with his situation. After a few years, Asif left the family
business with some bitterness and joined a consulting company specializing in consumer goods and

role in the Choudhary Group), invited their older children, Ali and Sofia, to join the business and board.
Sofia started working in the supermarket as a shelf manager, while Ali was asked to investigate
international expansion into neighboring countries. During that time, Zoha's younger son, Affan, started
a software house with his friends and approached Baber (who hopes soon to become the CEO of the
Choudhary Group when his father Bashir finally retires) to talk about possible synergies with the
Choudhary Group.
At this point, Baber felt that action was needed to head off some major issues potentially facing the
business and the family. Baber advocated some urgent reflection on strategy and felt the board of
directors was not fulfilling its role.

Explain the organizational structure of above case study

Answers

The organizational structure that is present in the case study that we have here is what is regarded as the Functional organizational structure.

What is an organizational structure?

This can be regarded as the way that firms are able to achieve their tasks and activities daily by effectively distributing them.

The roles of each of the persons are well defined through the use of organizational structure.

The tasks that each worker is to do has to be effectively assigned based on their specific specializations.

The merits that are experienced here is that there is expert knowledge and the people have work that has good quality.

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people's values always stay the same throughout life

Answers

It is false that people's values always stay the same throughout life because they can change due to experiences.

What are the values?

This concept is used to refer to principles that regulate our behavior and ideas about life and other people. For example compassion makes us help those in need.

Do values stay the same?

While some values can stay the same during all life, some of them change due to experience or level of maturity, for example, someone who was honest as a child might not be honest as an adult.

Note: This question is incomplete; here is the missing part:

People's values always stay the same throughout life

True

False

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What is a metric when it comes to data analysis? Please provide a definition.

Answers

Answer:

Metrics are the numbers you track, and analytics implies analyses and decision making. Metrics: What you measure to gauge performance or progress within a company or organization. Your most important metrics are your key performance indicators, or KPIs.

Explanation:

State and explain 4 way by which a contruct
Can be discharged

Answers

Contracts can be discharged by performance: complete performance discharges both sides; material breach discharges the breaching party, who has a right to claim damages; substantial performance obligates the promisee to pay something for the benefit conferred but is a breach.

What methods show the property sheet? Check all that apply.

Answers

The methods that show the property sheet is on the form tools design tab, in the Tools group, click property sheet and press the F4 function.

What is a property sheet?

A property sheet refers to the window that allows the user to view and edit the properties of an item.

The method that shows the property sheet is on the form tools design tab in the Tools group, click the property sheet and press the F4 function key.

Therefore, B, and D are the correct option.

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What is one major problem created by globalization?
O A. An increase in international shipping has led to more pollution.
B. Fewer workers are able to get an education related to their jobs.
C. Military conflicts between powerful nations have increased.
D. It has become more difficult to get products made in other
countries.
SUBMIT

Answers

The correct answer is
A) An increase in international shipping has led to more pollution.

baker invested $80,000 in a computer company assets = liabilities + owner's equity cash + accounts + computer = accounts + b. baker - b. baker + revenues - expenses

Answers

Baker invested $80,000. Baker capital = $80,000, Baker Withdrawals = $125.00, Cash = $-1,490.00

What is investment?

An investment is a valuable item bought with the intention of increasing one's wealth. While stocks, bonds, and real estate are frequently included when discussing investments.

Assets = Liabilities + Owner's Equity

Cash + Accounts + Computer = Accounts + B. Baker - B. Baker + Revenues - Expenses

Complete solution given in image.

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Naomi weighed 50 patients for a medical study using a scale that measures to the nearest whole pound. She then calculated the mean weight as 176 pounds, with a standard deviation of 12 pounds.

If the distribution is normal, what percent of the data lies between 140 pounds and 212 pounds?

Answers

99.7 percentage of the data lies between 140 and 212 pounds when the distribution of the standard deviation is normal.

What is standard deviation?

Any given quantity, which is used to express that how many observations differ from others in the total observations of a data, is referred to as standard deviation. It is represented by σ.

To calculate the percentage of data lying between the given values, we will use the formula of empirical method and the given information to compute as under,

[tex]\rm P(mu-3\ x\ \sigma < X < \mu + 3\ x\ \sigma)[/tex]

Solving further,

[tex]\rm P(176-3\ x\ \12 < X < \176+ 3\ x\ 12) = 0.997[/tex]

Hence, the significance upon the standard deviation of data weighted by Naomi is as aforementioned.

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performance apraisals of employees

Answers

Performance apraisals of employees are used to rate the performance of workers in an organization.

What is performance appraisal?

It should be noted that a performance appraisal simply means a regular review of the job performance of an employee.

Companies use performance appraisal in order to determine which employees have contributed the most to the growth of the company.

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What's the definition of user retention and why it is important?
What drives user retention?

Answers

Answer:

User retention, sometimes referred to as "cohort retention," is a crucial indicator of the development of SaaS and digital goods. The proportion of first-time users that return in future time periods is determined by looking at those users during a given time period (usually one month or one week).

Replacement value is the amount company has to spend to acquire the same asset in the existing condition. True/false

Answers

Answer:

False

Explanation:

Replacement value is the amount company has to spend to acquire the same asset in the brand-new conditions.

The above question instead mentions of acquiring assets in the existing conditions, so the statement given above is false.

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False, the cost to replace a critical asset, such as a piece of real estate, investment security, a lien, or another object, with one of equal or greater worth is referred to as replacement cost. A replacement cost, which is often referred to as "replacement value,"

More about replacement value-

A replacement cost may change depending on elements including the market price of the parts required to rebuild or repurchase the asset and the costs associated with getting assets ready for usage.Replacement costs are frequently used by insurance companies to calculate the value of an insured item. Replacement valuation is the process of determining a replacement cost.

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a). Write the journal entries to correct the following errors. (1) Rent Received Kshs. 430,000 have been credited to the Commissions Received account. (2) Bank charges Kshs. 34,000 have been debited to the Business Rates account. (3) Completely omitted from the books is a payment of Motor Expenses by cheque Kshs. 37,000. (4) A purchase of a fax machine Kshs. 242,000 has been entered in the Purchases account. (5) Returns inwards Kshs. 216,000 has been entered on the debit side of the Returns Outwards account. (6) A loan from G Bain Kshs. 2,000,000 has been entered on the credit side of the Capital account. (7) Loan interest of Kshs. 400,000 has been debited to the Van account. (8) Goods taken for own use Kshs. 84,000 have been debited to the Purchases account and credited to drawings. (10 Marks)

Answers

The journal entries to correct the errors are as follows:

Journal Entries:

(1) Debit Commission Received Account Kshs. 430,000

Credit Rent Received Account Kshs. 430,000

To reverse the credit to the wrong account.

(2) Debit Bank charges Kshs. 34,000

Credit Business Rates account Kshs. 34,000